BIR Ruling No. 174-83
BIR Ruling No. 174-83 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 7, 1983
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October 7, 1983 BIR RULING NO. 174-83 Gentlemen : This refers to your letter dated May 3, 1983 requesting confirmation that Wardley (Vila) Limited, a company incorporated at Vila (New Hebrides) Republic of Vanuatu and which was entitled to the reduced 15% withholding tax on dividends from domestic corporations, pursuant to Section 24 (b)(i)(iii) of the Tax Code, is also entitled to the same reduced rate under its new name of Wardley International Bank (Vila) Limited. Considering that the change of name was official and since it has been established that the Republic of Vanuatu, formerly New Hebrides, does not impose any tax on dividend income received by corporations domiciled therein from foreign sources within the Philippines remitted to Wardley International Bank (Vila), Limited, shall be subject only to 15% withholding tax. aisadc Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner Bureau of Internal Revenue
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