BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Sep 12, 1968
Full text
September 12, 1968 The Executive Music Center 1669 A. Mabini St. Malate, Manila Gentlemen : This refers to your letter of even date requesting information as to the rate of advance sales tax due on imported musical movement mechanism to be used in the manufacture of musical boxes. In reply, I have the honor to inform you that the musical movement mechanism is subject to 7% advance sales tax based on the landed cost thereof plus 25% mark-up pursuant to Section 183(b) in relation to Section 186, both of the Tax Code. cdta Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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