BIR Ruling No. 028-62

January 30, 1962 BIR RULING NO. 028-62 MEMORANDUM FOR The Revenue Operations Head (Assessment) Returned are the papers bearing on the request of Mr. Bayani L. Barzaga of the Import Department, Central Bank of the Philippines, with the following comment. It appears that the Central Bank is merely requesting information as to whether or not the 1958-1959-1960 books of accounts and related records of an importer (Mr. Precepio T. Talon) were at any recent time examined by this Office. Problem : If the query is answered in the affirmative, are we violating the provision of Section 347 of the Tax Code? Please note that an affirmative answer to the query would not in any way divulge or expose the trade secrets of the taxpayer in question. Mere information to a government entity, such as Central Bank, that we have examined the books of accounts pertaining to a given year of a certain taxpayer does not violate the provisions of Section 347 of the Tax Code. What is prohibited by the law is "information regarding the business, income or inheritance of any taxpayer, the secrets, operation, style of work, or apparatus of any manufacturer or producer, or confidential information regarding the business of any taxpayer. In view of the foregoing, we may answer accordingly the letter of Mr. Bayani L. Barzaga of the Import Department, of Central Bank of the Philippines. cdt MELECIO R. DOMINGO Commissioner of Internal Revenue