BIR Ruling No. 125-61
BIR Ruling No. 125-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 6, 1961
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April 6, 1961 BIR RULING NO. 125-61 Hon. Jose Alejandro Philippine Embassy Karachi, Pakistan S i r : Reference is made to your letter dated March 22, 1961, requesting a ruling from this Office as to whether or not margin fees paid on dollar remittances to Filipino nationals in Pakistan are deductible expenses in the computation of their income taxes. In reply thereto, I have the honor to inform you that dollar margin fee is not a tax and, therefore, not deductible for purposes of the income tax, unless it constitutes as a business expense. aisadc Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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