Rural Banks Whose Net Assets Exceed P700,000.00
BIR Ruling No. 397-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Aug 11, 1959
Full text
August 11, 1959 BIR RULING NO. 397-59 Central Bank of the Philippines M a n i l a Attention : Director, Dept . of Rural Banks Gentlemen : Pursuant to Republic Act No. 720, as amended by Republic Act No. 1097, Rural Banks whose net assets exceed P700,000.00 are subject to internal revenue tax. In view of the aforestated provisions of law, I have the honor to request your office, to furnish us a list of rural banks in the Philippines whose net assets exceed P700,000.00. prcd Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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