BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jun 13, 1972
Full text
June 13, 1972 Antonio M. Leyba & Co. Customs Broker Rm. 405 Paramount Building 434 Rosario St., Manila Gentlemen : This refers to your letter dated June 6, 1972 requesting information as to the correct rate of advance sales tax applicable to the importation of your client, Orient Hat Manufacturing Co., of 8 bales of hat bodies (half-finished goods of wool felt). cdt In reply, I have the honor to inform you that the instant importation of your aforesaid client of hat bodies made of wool felt is subject to the 40% advance sales tax based on the landed cost thereof, plus 50% mark-up pursuant to Section 183(b) in relation to Section 185(b), both of the Tax Code. Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue
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