BIR Ruling No. 158-61
BIR Ruling No. 158-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 18, 1961
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April 18, 1961 BIR RULING NO. 158-61 Mrs. Jessie Dela Menendez Hacienda Santa Isabel Tabacalera, Ilagan Isabela M a d a m : In reply to your letter dated March 22, 1961, I have the honor to inform you that all income received or earned from whatever source, unless expressly exempt from tax by law, are includible in the computation of the income tax. However, under Commonwealth Act No. 465, as amended, the bases of the tax are the assessed value of real property owned by the taxpayer and the gross receipts or earnings derived by said taxpayer from business excluding dividends. Salaries and receipts derived from the exercise of the profession of an individual are additional bases in determining his additional residence tax. Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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