Tax on Retirement Gratuity Received by Koppel (Phil.) Inc. Employee
BIR Ruling No. 318-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jun 10, 1958
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June 10, 1958 BIR RULING NO. 318-58 Mr. Eusebio Martin 2368 Sutar Street Sta. Ana, Manila S i r : In reply to your letter dated May 29, 1958, I have the honor to inform you that, the retirement gratuity received by you as an employee of the Koppel (Phil.) Inc. is subject to income tax, there being no provision of law specifically exempting the same from income tax. In this connection, please be informed that the retirement gratuity granted to a government employee who is a member of the Government Service Insurance System is exempt from the income tax in accordance with Section 28(c) of Republic Act No. 66, as amended by Section 12 of Republic Act No. 728. Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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