BIR Ruling

May 22, 1968 Mr. Bienvenido A. Matias 425 Plaridel Street San Roque, Cavite City S i r : This refers to your letter dated May 20, 1968 stating that you have been assigned as Finance Officer of the Philippine Consulate General, New York City; that upon your reassignment to the Home Office, you brought home tax-free under the provisions of Republic Act No. 4112 a 1968 Model Mercury Cougar car with Serial No. 8F91F538578; and that you are contemplating to sell the aforecited car to a prospective buyer. On the basis of the aforesaid facts, you would like this Office to confirm that the above mentioned car may be registered with the Land Transportation Commission in the name of the prospective buyer without requiring him 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 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. atdc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue