Compromise Penalty Prescribed by General Circular No. V-236
BIR Ruling No. 197-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 24, 1959
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April 24, 1959 BIR RULING NO. 197-59 Mr. Ng Bun Cheng 48-D, New Azcarraga Textile Market M a n i l a S i r : With reference to your letter dated April 21, 1959, I have the honor to inform you that taxpayers whose gross quarterly sales, receipts or gross value of output exceeds P5,000 but does not exceed P25,000 are liable to the compromise penalty prescribed by General Circular No. V-236 for failure to accompany their income tax returns with the yearly statement of net worth and operations only from the date of the promulgation thereof. Said circular was promulgated on February 16, 1957. aisadc Regional Office No. 3 has been advised accordingly. Very truly yours, (SGD.) MELECIO R. DOMINGO Deputy Commissioner of Internal Revenue
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