BIR Ruling No. 138-61
BIR Ruling No. 138-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 28, 1961
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March 28, 1961 BIR RULING NO. 138-61 Mr. Nestor B. Quesada Maritima Building 119 Dasmarias, Manila P.O. Box 805 S i r : In reply to your letter dated January 30, 1961, I have the honor to inform you that under Section 1(a) of Commonwealth Act No. 465, otherwise known as the Residence Tax Law, the basis of additional residence tax with regard to real property is its assessed value. In view thereof, the rental income from such property is no longer a basis for said tax. This ruling revokes previous rulings to the contrary. Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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