Classification of Stockbrokers
BIR Ruling No. 509-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 10, 1958
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September 10, 1958 BIR RULING NO. 509-58 Mr. Mariano Brias Vice President & Treasurer Olives & Brias, Inc. Room 306 Trade & Commerce Bldg. Manila S i r : In reply to your letter dated July 30, 1958, I have the honor to inform you that your so called provincial correspondents whose function consist of the sale of your stocks and securities are in accordance with Section 194(r) of the Tax Code classified as stockbrokers, subject to the fixed and percentage taxes prescribed in Sections 182(a)(3)(s) and 195 of the same Code. Accordingly, your Cebu correspondent Mr. Juan Roa, must pay his privilege tax before engaging in business as such and the 6% percentage tax on his monthly gross receipts. cdti Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
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