BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jun 5, 1968
Full text
June 5, 1968 Federal Medical and Pharmaceutical 132-C Sta. Mesa Blvd. Ext. San Juan, Rizal Gentlemen : This refers to your letter dated May 24, 1968 requesting information as to the correct rate of advance sales tax due on the imported Interval Timer Hawkeye Standard 946720 and Time Switch Clock, SSS #946710. In reply, I have the honor to inform you that the imported articles fall within the purview of clocks under Section 185(b) of the Tax Code and, therefore, the same are subject to the 30% advance sales tax based on the total 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, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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