BIR Ruling [UN-119-94]

April 4, 1994 BIR RULING [UN-119-94] Mr. Vicente L. Macalisang 10 Evangelista, Project 4 Quezon City S i r : This refers to your letter dated January 5, 1994 requesting exemption from the payment of income tax pursuant to the provisions of R.A. No. 7432 and a refund of the amount which was withheld from your 1993 income. aisadc Documents submitted disclosed that you were certified by the Office of Senior Citizens Affairs (OSCA) as a senior citizen and issued ID No. 512879 and that you are a faculty member of the National College of Business and Arts with a gross compensation income of P42,592.10 for the year 1993. In reply, please be informed that under R.A. No. 7432, which was approved on April 23, 1992, senior citizens shall be entitled to exemption from the payment of individual income tax; provided that their annual taxable income does not exceed the poverty level of P60,000.00 or such amount as may be determined by the National Economic & Development Authority (NEDA) for a certain taxable year. For purposes of said Act, the term "senior citizen" shall mean any resident citizen of the Philippines at least sixty (60) years old, including those who have retired from both government offices and private enterprises, and has an income of not more than Sixty Thousand Pesos (P60,000.00) per annum subject to review by the National Economic & Development Authority (NEDA) every three years. (Sec. 2, R.A. 7432) In view thereof, and considering that you were certified by the Office of Senior Citizens Affairs (OSCA) of Quezon City as a qualified senior citizen, this Office is of the opinion as it hereby holds that you are exempt from the payment of income tax on your annual income of P42,592.10. Consequently, the tax withheld from your said income as certified by NCBA Accountant, Mr. Edwin P. Torres may be claimed as a refund from that Office if the said amount has not yet been remitted to the government. Otherwise, you may file your request for refund with the Chief, Appellate Division, this Bureau within two years from the date of payment of said tax withheld, pursuant to Section 204 of the Tax Code, as amended. (BIR Ruling No. 066-94) cdi Very truly yours, ALICIA P. CLEMENO Head Revenue Executive Assistant Officer-in-Charge (Legal Service)