March 26, 2010
BIR RULING [SB-(001) 011-10]
Sec. 32 (b) (6) (b); DA-383-06; DA-627-07; BIR Ruling No. 093-83
Petron Corporation
Petron Mega Plaza, 358 Sen. Gil Puyat Avenue
Makati City
Attention: Mr. Freddie P. Yumang
Vice President
Gentlemen :
This refers to your letter dated November 23, 2009 requesting in behalf of your employee, Danilo N. Baluyot, for tax exemption for the medical termination benefits pursuant to Section 32 (b) (6) (b) of the Tax Code of 1997.
It is represented that Danilo N. Baluyot ("Mr. Baluyot") was hired on August 1, 1995 and has been with the Company for the past 14.3 years with a monthly base pay of P49,263.38; that Mr. Baluyot was separated from Petron Corporation — Refining Division effective October 16, 2009; that in accordance with your Company policy, Mr. Baluyot is eligible for medical termination due to his condition as cited in the attached letter of the company physician, which was also attested to by a previous local government Ophthalmologist based in Balanga City, Bataan; that included in your request is a medical certificate from Dr. Amadeo Veloso, Jr.,...
