Meaning of the Term "Gross Receipts" as Used in Sec. 195 (NIRC)
BIR Ruling No. 365-60 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Aug 29, 1960
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August 29, 1960 BIR RULING NO. 365-60 J. Arthur Rank Overseas Film Distributors Ltd. 4th Floor Alcazar Bldg. 412 Estero Cegado M a n i l a Gentlemen : In reply to your letter dated May 9, 1960, I have the honor to inform you that the term "gross receipts" as used in section 195 of the National Internal Revenue Code means the whole, entire, total, actual receipts of the company without deductions for expenses incurred in connection with the operation of the business. Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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