Professional Partnership of Certified Public Accountants Exempt from Income Tax
BIR Ruling No. 054-85 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 10, 1985
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April 10, 1985 BIR RULING NO. 054-85 53-f 142-84 054-85 Gentlemen : In reply to your letter dated February 28, 1985, please be informed that your professional partnership of Certified Public Accountants is exempt from income tax pursuant to Section 24 (a) of the Tax Code, as amended. Accordingly, payments to said partnership for professional services rendered are exempt from the withholding tax provisions of Revenue Regulations No. 1378, as amended by Revenue Regulations No. 6-79, both implementing Section 53(f) of the Tax Code, as amended by Presidential Decree No. 1351. cdt Very truly yours, (SGD.) TOMAS C. TOLEDO Acting Commissioner
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