BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 23, 1975
Full text
October 23, 1975 Mr. Canciano Llenos Basak Iron Works Basak, Pardo Cebu City S i r : This refers to your letter dated April 29, 1975 requesting exemption from the payment of fixed and percentage taxes under the provisions of the NACIDA law. Investigation disclosed that you are engaged in metalcraft industry, manufacturing window grills and gates; that you started operation sometime in 1967; that you have a capital investment of P4,000.00; that you are registered with the NACIDA under Certificate of Registration No. 03100 dated June 22, 1973; that you have ten (10) employees who are related to you by consanguinity; that your business facilities consists of a welding machine, a grinder, hammer and chisels; that you have an annual gross receipts of P30,000.00; and that you are holder of privilege tax receipt (C-14) issued on January, 1975. In reply thereto, I have the honor to inform you that under the foregoing circumstances, you are exempt from the payment of fixed and percentage taxes pursuant to the provisions of Republic Act. No. 3470, as amended by Republic Act No. 5326. Very truly yours, EFREN I. PLANA Acting Commissioner of Internal Revenue TAN-1456-040-3
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