Tax Exemption of Pensions Received by Retirees from Foreign Sources
BIR Ruling No. 046-87 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 16, 1987
Full text
February 16, 1987 BIR RULING NO. 046-87 29 (b) (7) (C) 000-00 046-87 Gentlemen : This refers to your letter dated January 12, 1987 requesting a ruling as to whether pensions received by retirees from foreign sources are subject to tax. In reply thereto, I have the honor to inform you that pursuant to Section 29(b)(7)(C) of the Tax Code as amended by Executive Order No. 37, social security benefits, retirement gratuities, pensions and other similar benefits received by resident or non-resident citizens of the Philippines or aliens who come to reside permanently in the Philippines from foreign government agencies and other institutions, private or public, shall not be included in gross income and shall be exempt from tax. Such being the case pensions received by retirees from foreign sources are exempt from income tax. Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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