BIR Ruling No. 194-61

June 2, 1961 BIR RULING NO. 194-61 Rear Admiral C. K. Duncan Commander, U.S. Naval Base Subic Bay, Olongapo Zambales S i r : Reference is made to your letter dated May 25, 1961 requesting the exemption from tax of the carnival to be held during the Fil-American Fiesta to be held in the place on July 1st and 2nd. In reply thereto, I regret to have to inform you that your request cannot be granted for lack of legal basis. However, if the admission fees charged for admission into the carnival grounds will not be in excess of P0.20 no amusement tax is due and payable pursuant to Sec. 260 of the Tax Code. If side shows are to be operated within the carnival grounds and the admission fees to be charged for admission into such shows is not more than P0.20, no amusement tax is likewise due and payable. In any event, the entire proceeds from the affair shall not be subject to income tax pursuant to Section 27(e) of the Tax Code. Very truly yours, (SGD.) MISAEL P. VERA Deputy Commissioner of Internal Revenue