BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jul 19, 1967
Full text
July 19, 1967 Mobil Oil Philippines, Inc. P.O. Box 608 Manila Attention: Mr . B . M . del Rosario Gentlemen : This refers to your letter dated June 15, 1967 requesting exemption from the payment of compensating tax on your importation of an oil tanker, M/V Capella. In reply, I have the honor to inform you that a tanker, imported by an oil company for use exclusively in the transportation of its products, does not fall within the purview of Section 190(d) of the Tax Code, as amended. Consequently, the imported oil tanker, M/V Capella is subject to the compensating tax prescribed in Section 190, in relation to Section 186, both of the Tax Code. LibLex Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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