BIR Ruling

April 23, 1975 Mr. Brian Ward Christ For Greater Manila, Inc. P.O. Box 1467 Manila S i r : This refers to your letter dated April 8, 1975 requesting that a Ford Falcon Station Wagon, Model 1964 with Motor No. 4T22U 147793 which was brought into the Philippines tax free under Republic Act No. 1916 and which will be sold to you by the Missionary Aviation Fellowship be exempt from the payment of compensating tax. It is represented that the above-described motor vehicle is more than 10 years old, that it was brought into the Philippines in 1964 by the Southern Baptist Mission(now, Philippines Baptist Mission) for religious purposes, and that the same was transferred tax free to the Missionary Aviation Fellowship, also a non-profit mission duly registered in the Philippines. cdta In reply, I have the honor to inform you that under the foregoing circumstances, it is the opinion of this Office that the sale of the said motor vehicle is a disposition of a fully depreciated asset not the subject to the payment of compensating tax. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5