BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Apr 19, 1968
Full text
April 19, 1968 Mr. J. V. Paculan Certified Public Accountant P. O. Box 4173 Manila S i r : This refers to your letter dated March 25, 1968 stating the following: "Your valuable advice is hereby requested on the taxes chargeable to proceeds of the sale of livestock particularly pigs and cattles." In reply thereto, I have the honor to inform you that a person who sells pigs and cattle of his own produce is not subject to any percentage tax, pursuant to Section 188(b) of the Tax Code. However, a person who is engaged in the business of buying and selling pigs and cattle is considered a dealer subject to the graduated annual fixed tax prescribed in Section 182(A)(2) of the same Code. Receipts derived from the sale of livestocks either by the producer or dealer shall be declared for purposes of the income and additional residence taxes. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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