Proprietors, Lessees or Operators of Racetracks Subject to Amusement Taxes
BIR Ruling No. 042-85 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 20, 1985
Full text
March 20, 1985 BIR RULING NO. 042-85 268 000-00 042-85 Gentlemen : In reply to your joint letter dated March 8, 1985, I have the honor to inform you that as proprietors, lessees or operators of racetracks, you are subject to amusement taxes equivalent to 20% of your gross receipts pursuant to Section 268 of the Tax Code, as amended. The term "gross receipts", for the purposes of the amusement tax, embraces all the receipts derived by you as operators of racetracks. Said receipts, therefore, include you admission receipts derived during mid-week races which are duly authorized by the Philippine Racing Commission. This Office hereby confirms that said amusement tax based on your gross receipt is a national internal revenue tax; hence, it is imposed and collected only by the Bureau of Internal Revenue in accordance with Section 3 and 19 of the same Code. aisadc Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.