BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Dec 3, 1973
Full text
December 3, 1973 Mr. Roque C. Pacariem Superintendent Baybay National College of Agriculture & Technology Siniloan, Laguna S i r : This refers to your letter dated November 29, 1973 requesting exemption from the payment of compensating tax on a donation of an unserviceable motor vehicle by the Central Bank of the Philippines to the Baybay National College of Agriculture & Technology. cdt It is verbally represented that said motor vehicle is a Chevrolet car model 1963 imported tax free by the Central Bank of the Philippines for its own use; that the same is now a junk and no longer in running condition, and is being donated to the College only for dismantling to be used for instructional purposes and not for sale. In reply, I have the honor to inform you that under the foregoing circumstances, it is the opinion of this Office that the transfer of the same by donation is a disposition of a fully depreciated asset not subject to the payment of compensating tax. aisadc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5 "TAXPAYERS SHOULD INDICATE THEIR TAN IN ALL COMMUNICATIONS TO THE BIR."
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.