Tax Exemption Granted to Owners of Buildings and Lots for Rent Whose Gross Income is Less than P4,000.00/annum

February 17, 1958 BIR RULING NO. 162-58 Mr. Ponciano Reyna 162 South 19, Roxas District Quezon City S i r : In reply to your letter dated January 29, 1958, I have the honor to inform you that owners of buildings and lots for rent whose gross income is less than P4,000.00 per annum is not subject to the real estate dealer's fixed tax as prescribed in Section 182(A) (3)(s) of the National Internal Revenue Code, as amended. LexLib In this connection, you are further informed that real estate dealers subject to the fixed tax as prescribed in Section 182(A) (3)(s) of the Tax Code should pay their tax annually or semi-annually, in accordance with the schedule below: GROSS ANNUAL INCOME TAX PER ANNUM SEMESTER P 4,000.00 P10,000.00 P150.00 P 75.00 10,001.00 P30,000.00 300.00 150.00 30,001.00 or more 500.00 250.00 Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue