BIR Ruling [DA-161-03]
BIR Ruling [DA-161-03] • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • May 14, 2003
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May 14, 2003 BIR RULING [DA-161-03] Almeda, Inc. Marvin Plaza Bldg. 2153 Pasong Tamo, Makati City Attention: Mr. Edwin P. Almeda Gentlemen : This refers to your letter dated May 23, 2001 inquiring if Land Bank of the Philippines Agrarian Reform Ten-Year Bonds with Serial Numbers enumerated thereon can be used as payment for value-added taxes of Almeda, Inc. using their remaining balances. In reply, please be informed that the matured/maturing portion of the 10-year LBP bonds by the taxpayer/bondholder can be used as payment for VAT, among others, pursuant to Section 2 of the Joint BIR-LEP Regulation No. 1-92 signed on February 12, 1992 and disseminated by Revenue Memorandum Circular No. 20-92 of this Bureau. A copy of said RMC No. 20-92 is herewith enclosed for your ready reference. We trust that this satisfies your question. aEDCSI Very truly yours, Commissioner of Internal Revenue By: (SGD.) JOSE MARIO C. BUAG Deputy Commissioner Legal & Inspection Group
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