Gross Receipts Tax on Interest Income Full Amount

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BIR REVENUE MEMORANDUM CIRCULAR NO. 69-2003: Gross Receipts Tax on Interest Income Full Amount

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Title Supreme Court: Gross Receipts Tax on Interest Income Full Amount

Law: Bir Revenue Memorandum Circular No. 69-2003

Decision Date: Oct 13, 2003

The Bureau of Internal Revenue clarifies that for the gross receipts tax, the entire interest income, including the final withholding tax, must be considered as part of a bank's gross receipts, as established by the Supreme Court's ruling on the China Banking Corporation case.

gross receipts

tax code

administrative law

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