15% Amusement Tax on the Proceeds Derived from Boxing Bouts

August 30, 1988 BIR RULING NO. 419-88 123 000-00 419-88 Gentlemen : This refers to your letter dated August 11, 1988 requesting that the proceeds of the boxing title fight between Dodie Boy Pealosa of the Philippines and Biwon Chung of Korea which you will promote on September 2, 1988 at the Araneta Coliseum as part of your fund raising campaign as authorized under Presidential Proclamation No. 263, be exempted from the amusement tax. In reply, please be informed that while Presidential Proclamation No. 263 exempts from the donor's tax all gifts, bequests donations and/or contributions to the Philippine Olympic Committee in accordance with the provisions of Presidential Decree No. 507, nevertheless, said Presidential Proclamation does not exempt the Committee from the 15% amusement tax prescribed under Section 123 of the Tax Code, as amended, on the proceeds to be derived from boxing bouts. Such being the case, it is regretted that your request cannot be granted for lack of legal basis. Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner