BSP declared ‘not a bank’ and exempted from GRT

A memorandum from the Bureau of Internal Revenue has declared the Bangko Sentral ng Pilipinas (BSP) not a bank and therefore exempted from GRT or gross receipt tax.
The Revenue Memorandum Circular 65-2008, which states that BSP is exempted from GRT and some other taxes was signed by former BIR commissioner Lilian B. Hefti. It was [...]