BIR Ruling [DA-100-04]

March 1, 2004 BIR RULING [DA-100-04] Section 109 (y); VAT No. 022-2001 Ramon F. Garcia & Company Certified Public Accountants Suite 410 Manila Bank Building, Ayala Avenue, Makati City Attention: Mr . Ramon F. Garcia Gentlemen : This refers to your letter dated April 30, 2003 which was indorsed to this Office by way of 2nd Indorsement by the Chief, Legal Division, Revenue Region No. 8 requesting for an exemption from the Value-Added Tax on your importation of books. It is represented that you import books from the Information Systems and Control Association; and that you are requesting that you be exempted from the payment of the value-added tax pursuant to Section 109(y) of the Tax Code of 1997. In reply, please be informed that pursuant to Section 109(y) of the Tax Code of 1997, "sale, importation, printing or publication of books and any newspaper, magazine, review or bulletin which appears at regular intervals with fixed prices for subscription and sale and which is not devoted principally to the publication of paid advertisements" is exempt from the value-added tax (VAT). Such being the case, your importation of books from the Information Systems and Control Association is exempt from the payment of VAT. Very truly yours, Commissioner of Internal Revenue By: (SGD.) JOSE MARIO C. BUAG Deputy Commissioner Legal and Inspection Group