BIR Ruling

April 10, 1970 Greater Manila Terminal Food Market, Inc. ADC Building, Ayala Avenue Makati, Rizal Gentlemen : This refers to your letter dated April 8, 1970 requesting the exemption of your rolling stores which you intend to launch beginning April 11, 1970 to sell canned goods in order to stabilize prices of said commodities from the issuance of sales invoices. Instead, you represented that you will summarize your sales per truck everyday and issue corresponding sales invoices by inventory method. In reply, I have the honor to inform you that your request cannot be granted for lack of legal basis. Pursuant to Section 204 of the Tax Code, persons whose gross sales exceed P20,000 during the last preceding year shall issue an invoice irrespective of the value of the articles sold. cdti In this connection, it may also be stated that each of your rolling stores shall be subject to the fixed tax prescribed by Section 182(A)(2), pursuant to Section 178, both of the Tax Code. Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue