BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jan 22, 1974
Full text
January 22, 1974 Mr. Tomas Falcon General Manager Falcon Brokerage Co., Inc. Rm. 403 Pacific Bank Bldg. 460 Rosario St., Manila S i r : In reply to your letter dated January 16, 1974, I have the honor to inform you that the cost of imported spice oils, also known as essential oils which is used by your client in the manufacture of its canned pork and beans product and which is subject to the 7% advance sales tax, is deductible from the gross selling price of the canned pork and beans in determining the sales tax due on said product. aisa dc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5 "TAXPAYERS SHOULD INDICATE THEIR TAN IN ALL COMMUNICATIONS TO THE BIR."
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