BIR Ruling

January 24, 1968 Mr. Ricardo M. Tan 128 Lopez-Rizal St. Mandaluyong, Rizal S i r : This refers to your letter dated January 23, 1968 stating, among others, that you served as Central Bank Financial Attache, Embassy of the Philippines, London; that upon your reassignment to the home office, you brought home tax-free under the provisions of Republic Act No. 4112, an Alfa Romeo 2600 Sprint car, with Motor No. 00601-08512 and duly registered in your name with the Land Transportation Commission with Plate No. L-57513; and that you are contemplating to dispose of said car to a prospective buyer. On the basis of the aforesaid facts, you are now requesting this Office an authority which will allow the purchaser to register said car in his name without having to pay the taxes due thereon. In reply, I have the honor to inform you that the sale of the car in question is not subject to tax, hence, the same may be registered in the name of the prospective buyer without requiring him to pay the tax due thereon. It is understood, however, that the exemption granted to you under the provisions of Republic Act No. 4112 shall not be availed of oftener than once every four years. aisadc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue