Certificates of Indebtedness Issued by the Government for Redeemable Emergency Notes
BIR Ruling No. 584-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 8, 1958
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October 8, 1958 BIR RULING NO. 584-58 Hilado & Hilado Law Office P.O. Box 199 Bacolod City Gentlemen : In reply to your letter dated August 7, 1958, I have the honor to inform you that certificates of indebtedness issued by the Government for redeemable emergency notes cannot be applied to the payment of taxes there being no law authorizing such application. Certificates of indebtedness issued by the Government in favor of backpay claimants may be applied to the payment of their taxes because such application is expressly authorized under Section 2 of Republic Act No. 304. It is stated in this connection that this Office has not received your letter dated March 21, 1958 addressed to the Secretary of Finance, although we received copy of the same which you attached to your letter to this Office dated August 7, 1958. LLphil Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
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