BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 25, 1976
Full text
October 25, 1976 Release from Customs of Imported Trane Reciprocating Liquid Chilling Machine Requirement on Posting of Bond with the BIR This refers to your letter requesting that your importation of 2 sets Trane Reciprocating Liquid Chilling Machine for Photo Laboratory use be released from customs upon payment of the 7% compensating tax. It is represented that the aforesaid article will be used for chilling your photographic emulsion for the manufacture of sensitized photographic papers and files; that it is imported not for room air-conditioning but for industrial refrigerating purposes; and that you are willing to post a bond to cover the difference of 33% between the 7% compensating tax to be paid upon release thereof and the 40% tax to be imposed if the imported articles are found later to be used for purposes other than those represented. In reply, I have the honor to inform you that your request is hereby granted subject to the condition that you file a bond with this Office in an amount equivalent to 33% representing the difference between the 7% compensating tax paid upon release from customs custody and 40% tax if upon verification the imported articles are used for air-conditioning purposes. cdtech
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