Compromise Penalty for Failure to Pay on Time the Required Firearms License Fee
BIR Ruling No. 122-60 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 14, 1960
Full text
March 14, 1960 BIR RULING NO. 122-60 Ist Indorsement Respectfully returned to the Regional Director, B.I.R Regional District No. 5, San Pablo City, the within papers relative to the internal revenue case of Mr. Vicente del Prado, Sr., of Mogpog, Marinduque, with the information that the compromise penalty provided for under General Circular No. V-240, schedule "X" for failure to pay on time the required firearms license fee prescribed in section 292 of the National Internal Revenue Code can no longer be imposed and collected from the aforesaid taxpayer inasmuch as the 25% surcharge is the penalty itself and payment thereof extinguishes his liability. MELECIO R. DOMINGO Commissioner of Internal Revenue
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