BIR Ruling

November 21, 1968 Mr. Alejandro M. Mirasol General Manager B-M Agricultural Cooperative Marketing Association Inc. 250-251 Plaza Mart Bldg. Bacolod City S i r : This refers to your request for exemption from 2% miller's tax under Act No. 3425, as amended. It appears that B-M Agricultural Cooperative Marketing Association, Inc. is an Association organized and operating in accordance with Act No. 3425, as amended and duly registered with the Securities and Exchange Commission; that the Association is affiliated with the Agricultural Credit Administration on August 22, 1968 under Certificate of Affiliation No. 635; and that from the marketing agreement and power of attorney entered into by and between the Association and its members, the Association undertakes the processing and marketing of the products and by-products or other agricultural products of its members. In reply, I have the honor to inform you that under the foregoing facts, the B-M Agricultural Cooperative Marketing Association, Inc., a cooperative marketing association duly organized and operating under Act No. 3425, as amended, is exempt from the 2% miller's tax and all other percentage taxes of whatever nature and description, pursuant to Section 48 of Act No. 3425, as amended by Republic Act No. 702. (Calamba Sugar Planters' Cooperative Marketing Association v. Com., CTA Case No. 216). atdc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue