BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Feb 23, 1972
Full text
February 23, 1972 Mr. Juan F. Trivino President Coco-Chemical Philippines, Inc. Buendia Building 259-263 Buendia Ave. Makati, Rizal S i r : This refers to your letters dated February 10 and 22, 1972 requesting in behalf of the Philippine National Bank that a certification be issued to the effect that said bank as owner of motor vessel CHIA and MARAO which are presently leased to the San Miguel Corporation, is not subject to the common carrier's fixed and percentage taxes. In reply, I have the honor to inform you that it appearing that the PNB acquired the aforesaid vessels by virtue of a court decision and it appearing that the PNB leased the same to San Miguel Corporation, PNB is not subject to the common carrier's fixed and percentage taxes imposed in Sections 182(A)(1) and 192 of the Tax Code. cdta Very truly yours, CONRADO P . DIAZ Acting Commissioner of Internal Revenue
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