Deductibility of the Social Security Commission from the Gross Income
BIR Ruling No. 463-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 2, 1958
Full text
September 2, 1958 BIR RULING NO. 463-58 Porta Pueco y Cia 409-431 Calle Perez Manila Gentlemen : This has reference to your letter dated August 29, 1958, requesting opinion regarding the following case: "Following the Social Security Law, a firm decides to shoulder the entire six (6) per cent contribution, instead of discounting the two and one half (2-) per cent from the employee and putting in the three and one-half (3-) per cent. Will the firm be allowed to consider the total amount contributed to the Social Security Commission as an expense of the Company?" In reply thereto, I have the honor to inform you that the entire 6% contribution to the Social Security Commission is an expense of the company and, therefore, deductible from the gross income. Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
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