BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Sep 28, 1970
Full text
September 28, 1970 The Action Line c/o The Manila Times P. O. Box 775 Manila Gentlemen : This refers to the letter dated July 3, 1970 of Miss Pilar Ronquillo of 315 Wayan St., Mandaluyong, Rizal requesting clarification as to the percentage tax applicable on a sawmill operator's purchases of logs. In reply, I have the honor to inform you that sales tax payable by saw mill operators are no longer based on 33-1/3% of the gross cost of logs purchased by them, but on the gross sales of lumber manufactured by them, pursuant to Section 186 of the Tax Code, as amended by Republic Act No. 6110. However, the cost of logs purchased by them is deductible from their gross sales of lumber. (BIR Ruling No. 70-037, dated July 21, 1970). aisadc Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue
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.