BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Aug 26, 1975
Full text
August 26, 1975 Triumph International (Phil.), Inc. MCC P. O. Box 2378 Makati, Rizal Gentlemen : This refers to your letter dated August 9, 1975 requesting information as to the correct rate of compensating tax applicable to your importation of master clock with accessories which are intended for use in your factory. In reply, I have the honor to inform you that the master clock with accessories imported by that firm for its factory use falls under the category of time recording devices. Such being the case, the same is subject to the 7% compensating tax pursuant to Section 190 in relation to Section 186, both of the tax Code. cdt Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5
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