BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Feb 19, 1969
Full text
February 19, 1969 Mariner's Adjustment Corp. Suite 521 Bank of P. I. Bldg. Plaza Cervantes, Manila Attention: Mr . Gilbert V . Zapa Asst . General Manager Gentlemen : This refers to your letter dated January 30, 1969 requesting information as to whether or not trade stocks or finished products which were lost due to theft or robbery while being in transit for sale and/or delivery to prospective customers are subject to the sales tax. In reply, I have the honor to inform you that the sales tax provided for in Sections 184, 185 and 186 of the Tax Code is due on a consummated sale, barter or exchange. Accordingly, if, as represented, the trade stocks or finished products were lost while in transit to be sold and/or delivered to prospective buyers, no sales tax is due thereon. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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