Tax Exemption Granted to Union Church of Manila
BIR Ruling No. 143-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 20, 1959
Full text
March 20, 1959 BIR RULING NO. 143-59 Mr. Guillermo Blanco 1 Cadorna, Mandaluyong Rizal S i r : With reference to your letter dated July 7, 1958, written for and in behalf of the Union Church of Manila, I have the honor to inform you that the excess of the selling price over the original cost of the church building and lot of said religious corporation is exempt from the income tax provided that the net proceeds from the sale of the church building and its site would be used by it exclusively in the purchase of a new church site and the construction thereon of a new church building in accordance with the ruling of the Secretary of Justice dated March 10, 1959. LLjur Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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