Non-application of the Redemption Value of Emergency Notes to the Payment of Taxes, Fines, Penalties or Surcharges
BIR Ruling No. 500-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 6, 1959
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October 6, 1959 BIR RULING NO. 500-59 Mr. Juan F. Abalon Lao-angan, Pambujan Samar S i r : In answer to your letter dated February 28, 1959, I regret to inform you that the redemption value of emergency notes cannot be applied to the payment of taxes, fines, penalties or surcharges, for lack of legal basis. Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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