BIR Ruling

February 9, 1970 Mr. Restituto P. Supnet Manager Vigan Consumers Cooperative, Inc. Vigan Ilocos Sur S i r : This refers to your letter dated November 17, 1969 requesting exemption from the payment of fixed tax on sale of liquor and cigarettes. It is represented that the Vigan Consumers Cooperative, Inc. is a cooperative duly registered with the Cooperatives Administration Office under Republic Act No. 2023; that it has an authorized capital stock of P100,000.00; and that it is operating a cooperative store dealing partly on sale of liquor and cigarettes. aisa dc In reply, I have the honor to inform you that the cooperative for selling liquor and cigarettes at retail, is exempt from the fixed taxes as retail dealer of said articles, imposed in Sections 182(A)(3)(h) and 182(A)(3)(p) of the Tax Code, as amended by Republic Act No. 6110, provided that the net assets of the cooperative does not exceed P500,000.00 pursuant to Section 66 of Republic Act No. 2023, as amended. Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue