Stay in the Philippines during "Retirement"
BIR Ruling No. 182-60 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 13, 1960
Full text
April 13, 1960 BIR RULING NO. 182-60 Mr. Antero G. Agpawa 2255 W. Adams Street Chicago 12, Illinois United States of America S i r : This is in answer to your letter inquiring, in effect, whether it will be advantageous, in respect to taxation, for you to stay in the Philippines during your "retirement". Being an American citizen, if you decide to reside permanently in this country, you will be subject to income taxation as a resident. As a resident, you will be subject to income tax on your income from Philippine sources and outside sources, including the United States of America. However, the rates of income tax here are lower than those in the United States. Besides proper tax credit against your Philippine income tax will be allowed for your Federal income tax. prcd A copy of our Income Tax Primer is inclosed herewith for your information and guidance. Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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