BIR Ruling

October 4, 1966 Mr. Sofronio Sian 958 J. Rizal Ave. Makati, Rizal S i r : This refers to your request for tax exemption under the provision of Republic Act No. 3850, which was favorably endorsed to this Office by the Chairman of the National Science Development Board. LLphil It appears that you were issued by the Philippine Patent Office Letter Patent No. 305 for your Combination Rice-Corn Mill Utility Model; that your capitalization does not exceed P50,000.00; that the manufacture of your invention is carried as a home industry; and that you are a duly registered inventor with the Philippine Inventors Commission. Under the foregoing facts, you are exempt from the payment of all kinds of taxes, licenses and permits during the first five years from the date of the grant of your letters patent by the Philippine Patent Office, pursuant to Section 10, Republic Act No. 3850. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue