BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jul 8, 1966
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July 8, 1966 Mr. Prospero B. Bueno Certified Public Accountant Cotabato City S i r : This refers to your letter dated March 30, 1966, requesting information as to whether or not our Ruling No. 348, dated July 27, 1960 would still be applicable in view of the effectivity of Republic Act No. 3704; and whether or not the cost of material, corn germ commonly called as "songo" used in the manufacture of corn oil or corn cake is deductible. In reply, I have the honor to inform you that BIR Ruling No. 348, dated July 27, 1960 ceased to have force and effect upon the effectivity of Republic Act 3704. As under the present law, corn germ a by-product of corn milled is neither subject to the sales tax nor to the 2% tax the cost of corn germ used in the manufacture of corn oil or corn cake is not, for purposes of the sales tax, no longer deductible from the gross selling price of the finished product. aisadc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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