Filing and Payment of Franchise Tax Return

August 16, 1990 BIR RULING NO. 153-90 117 000-00 153-90 Gentlemen : This refers to your letter dated June 15, 1990 requesting authority from this Office to file your franchise tax return and pay the tax due thereon on a quarterly basis. It appears that under Paragraph 19, Part One of Ordinance No. 44 dated January 12, 1903, your legislative franchise tax shall be due and payable monthly; and that since then you have been filing your franchise tax return and paying the tax due thereon on the 20th day of each and every month. In reply, please be informed that under Section 117 (formerly Section 227) of the Tax Code as amended by Executive Order No. 72, the franchise grantee shall file the return with, and pay the tax due thereon, to the Commissioner of Internal Revenue or his duly authorized representative in accordance with the provisions of Section 125 of this Code . . . any provision of any existing law to the contrary notwithstanding. Such being the case, and pursuant to Section 125 of the Tax Code, you should really file your franchise tax return quarterly and pay the tax due thereon within twenty (20) days after the end of each taxable quarter. Very truly yours, (SGD.) JOSE U. ONG Commissioner