BIR Ruling No. 236-61

June 21, 1961 BIR RULING NO. 236-61 Sycip, Gorres, Velayo & Co. 490 San Luis Street Manila Gentlemen : In your letter dated May 20, 1961, you requested information as to the taxability of a corporation under the following facts: cdti "A Corporation with head office in Manila and a branch office in Bacolod City is engaged in business at both places as a lending investor. Since the Manila office is already provided with a fixed tax on business of P300 a year as lending investor, we believe that the Bacolod office of the corporation is no longer required to have a separate fixed tax on business as lending investor." In answer thereto, I have the honor to inform you that pursuant to the proviso found in Section 182(A3-u) of the Tax Code, a lending investor who does business as such in more than one province shall pay a tax of P300.00 Consequently, your client must pay only one fixed tax of P300.00 for its entire business as lending investor regardless of the number of its branch offices. LLphil Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue