A Private Binding Ruling binds the Commissioner to apply the law in a certain way to all taxpayers who read the ruling.
Question 9 options:
True
False
False. A Private Binding Ruling, also known as a Private Determination, applies specifically to the taxpayer who requested it. It does not bind the Commissioner to apply the law in a certain way to all taxpayers who read the ruling. The Commissioner is legally bound by such a ruling in relation to the taxpayer who receives the ruling, but the ruling does not have a general application to all taxpayers.
