Tax Exemption on the Prize Received by a Sweepstakes Agent
BIR Ruling No. 441-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Aug 18, 1958
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August 18, 1958 BIR RULING NO. 441-58 Mr. Alfonso E. Lim Certified Public Accountant 619 Marques de Commillas Manila S i r : In reply to your letter dated August 11, 1958, I have the honor to inform you that the prize received by a sweepstakes agent of the Philippine Charity Sweepstakes for selling the winning ticket is exempt from income tax, pursuant to Section 4 of Republic Act No. 1169. For record purposes, however, the recipient thereof should report said prize in his income tax return together with his income from other sources. LibLex (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
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