Cancellation of Alpha Bond No. IR-1978
BIR Ruling No. 563-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Nov 5, 1959
Full text
November 5, 1959 BIR RULING NO. 563-59 Atty. Vicente Gavino Suite 405, Trade & Commerce Bldg. Juan Luna, Manila S i r : Reference is made to your letter dated August 12, 1959, requesting the cancellation of Alpha Bond No. IR-1978, executed by your client, Jose Maria Arancibia on July 22, 1958 in favor of the Bureau of Internal Revenue. It appears from your letter that this bond was required of your client for the purpose of enabling him to secure in tax clearance from this Office in view of his impending trip abroad. However, a perusal of the provisions of said bond discloses that you guarantee the payment of the amount of P6,040.33 if and when it is finally decided that the same is legally due from him which guarantee is not conditional upon the failure of the taxpayer to return to the Philippines. In view thereof, your request for the cancellation of the said bond is hereby denied. prcd Very truly yours, MISAEL P. VERA Deputy Commissioner of Internal Revenue
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