BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Aug 23, 1966
Full text
August 23, 1966 NC Associates, Incorporated Suite 512-514 Paramount Bldg. 434 Rosario St., Manila Gentlemen : This refers to your letter dated July 20, 1966 requesting information as to the rate of advance sales tax due on your importation of Polyvinyl Acetate or commonly called Artificial Resin. prll It is represented that this Polyvinyl Acetate or Artificial Resin is imported in its raw stage and has to undergo chemical mixing; and that it is used as raw material in the manufacture of plastic balloons. On the basis of the foregoing representations, it is hereby ruled that the imported Polyvinyl Acetate or Artificial Resin is subject to 7% advance sales tax based on the total landed cost thereof, plus 25% mark-up, pursuant to Section 183(b), in relation to Section 186, both of the Tax Code. LLpr Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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