Lingkod Bayan is a Tax Exempt Organization
BIR Ruling No. 076-80 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jun 17, 1980
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June 17, 1980 BIR RULING NO. 076-80 Mrs. Amparo M. Aspiras President Mga Lingkod Bayan 32 B adyao St., La Vista Quezon City M a d a m : In reply to your letter dated April 15, 1980, please be advised that our ruling dated September 13, 1977 wherein it was held that "since the Lingkod Bayan is a tax exempt organization pursuant to Presidential Proclamation No. 1651 dated June 28, 1977, the interest earnings on savings deposit of that entity with the Commercial Bank and Trust Company are exempt from the 15% withholding tax prescribed by P.D. No. 1156", is still valid. Moreover, its interest earnings in the money market remain exempt from the 35% tax on interest on commercial papers prescribed by Section 210(b) of the National Internal Revenue Code, as amended. Very truly yours, RUBEN B. ANCHETA Acting Commissioner of Internal Revenue
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