BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Nov 23, 1972
Full text
November 23, 1972 Miller, Cruz, & Co. Certified Public Accountants P. O. Box 151, Bacolod City Attention: Mr . Rodolfo M . Litonjua Partner Gentlemen : This refers to your letter dated October 28, 1972, requesting information as to what internal revenue taxes on business will your client, a candy manufacturer, be liable to for selling excess electric power to an electric light franchise holder. aisadc In reply, I have the honor to inform you that for selling electric power, your client shall be subject to the P50.00 annual fixed tax and to the 3% tax on its gross receipts pursuant to Sections 182(A)(1) and 191(5) of the Tax Code. Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue
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