CA No. 465, otherwise known as "An Act to Impose Residence Tax"

September 12, 1958 BIR RULING NO. 514-58 Mr. Florencio Gloria, Sr. P.O. Box 3005, Manila S i r : With reference to your letter dated August 8, 1958, I have the honor to inform you that Commonwealth Act No. 465, otherwise known as An Act to Impose Residence Tax does not contain any provision exempting persons over sixty (60) years of age from the payment of the residence taxes therein imposed. Accordingly, you are liable for the payment of the basic residence tax of P0.50, and also the additional residence tax, in accordance with the following schedules: (a) For every five thousand pesos worth of real property in the Philippines, in excess of ten thousand pesos, owned by such person during the preceding year, the valuation to be based upon the assessment rolls of the municipality where the property is situated, two pesos; (b) For every five thousand pesos of gross receipts or earnings, in excess of ten thousand pesos, derived by such person from his business in the Philippines during the preceding year, two pesos; and (c) For every one thousand pesos of salaries or gross receipts or earnings derived by such person from the exercise of any profession in the Philippines or from the pursuit of any occupation therein during the preceding year, one peso. Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue