Taxability of Solicitor of Magazine Subscriptions

October 9, 1958 BIR RULING NO. 623-58 Mr. Thos O. Pickett P. O. Box 2376, Manila S i r : In reply to your letter dated July 7, 1958, wherein you requested information as to the taxes you will pay as a solicitor of magazine subscriptions and the permits, if any, required for your business, I have the honor to inform you that solicitors of magazine subscriptions are considered commercial brokers, subject to the fixed and percentage taxes prescribed in Sections 182(A)(3)(s) and 195 of the Tax Code. cdll As commercial broker, you are required to use and keep the books of accounts prescribed in Section 334 of the Tax Code. If your gross quarterly earnings do not exceed P5,000 you may use the simplified set of bookkeeping records. If said earnings exceed P5,000, you should use and keep the journal and the ledger. These books of accounts as well as the receipts you issue to your customers must be presented to the Commissioner of Internal Revenue for approval and registration prior to their use. As regards the permits, if any, required for your business, this Office is not the one charged with the granting or issuance of the same. It is suggested, however, that you refer this matter to the Department of Commerce and Industry which has jurisdiction thereof. llcd Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue