BIR Ruling No. 094-82

March 30, 1982 BIR RULING NO. 094-82 192-3-bb 000-00 094-82 The Regional Director Revenue Region No. XI-B Davao City S i r : This refers to your letter dated January 19, 1981 inquiring whether the Bureau of Internal Revenue must still collect the P1,000 annual fixed tax from stock brokers and real estate brokers imposed under Section 192 (3) (bb) of the Tax Code of 1977. The inquiry is being sought in view of the Local Tax Regulations No. 1 promulgated by the Department (now Ministry) of Finance (implementing P.D. No. 231) which includes stock brokers and real estate brokers as among those subject to the annual occupation tax of P75.00. Under Section 12 (b) of the Local Tax Code (P.D. No. 231), a person paying the occupation tax shall no longer be "subject to any other national or local tax, license or fee for the practice of such profession or calling." cd In reply, please be informed that your query is answered in the affirmative. It should be noted that Section 12(b) of the Local Tax Code prohibits the imposition of any other national tax for the practice of a profession or calling . This prohibition, therefore, does not apply to the aforesaid annual fixed tax of P1,000 which is being imposed for the privilege of pursuing the business of stock broker or real estate broker. (Sec. 188, Tax Code). Moreover, stock brokers and real estate brokers were already subject to the annual fixed tax on business under Section 182 (3) (bb) [now Section 192 (3) (bb)] of the Tax Code, even before the promulgation of P.D. No. 231 on July 1, 1973 and Local Tax Regulations No. 1 on October 26, 1973 authorizing the imposition of the occupation tax on stock brokers and real estate brokers. cdt Very truly yours, RUBEN B. ANCHETA Acting Commissioner