Exemption from Withholding Tax — Payments to DBP
BIR Ruling No. 081-79 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 3, 1979
Full text
September 3, 1979 BIR RULING NO. 081-79 Exemption from withholding tax payments to DBP . This refers to your letter dated March 14, 1979 requesting for a certification to the effect that no withholding tax should be made on income remittance to the Development Bank of the Philippines as required by Revenue Regulations No. 13-78 implementing Presidential Decree No. 1351. In reply, I have the honor to inform you that under the aforesaid Regulations, payments only to persons enumerated therein are subject to withholding tax. Since income remittance to the Development Bank of the Philippines is not one of those specified in the Regulations, it is not subject to withholding tax. aisa dc
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