Land Bank Bonds Cannot be Used in Payment of Income tax Liabilities
BIR Ruling No. 244-81 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Dec 3, 1981
Full text
December 3, 1981 BIR RULING NO. 244-81 31-00 133-81 244-81 National Development Company Calle Pureza, Sta. Mesa M a n i l a Attention: Atty . Alfredo P . Javellana II Consultant Gentlemen : In reply to your letter dated November 21, 1980, I have the honor to inform you that Land Bank bonds cannot be used in payment of your income tax liabilities. Section 85 of Republic Act No. 3844 (Code of Agrarian Reform) as amended by Presidential Decree No. 251, enumerates the uses of said bonds and the payment of internal revenue taxes is not one of them. Very truly yours, RUBEN B. ANCHETA Acting Commissioner
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