BIR Ruling [DA-170-01]
BIR Ruling [DA-170-01] • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Sep 20, 2001
Full text
September 20, 2001 BIR RULING [DA-170-01] Assistant Secretary Gil S. Beltran Department of Finance Manila Dear Asst. Secretary Beltran : This refers to your Memorandum dated August 30, 2001 requesting for the official position of this Office on House Bill No. 1556 entitled "AN ACT AMENDING SECTION 106(A)(1)(a) AND SECTION 108(A) OF PRESIDENTIAL DECREE NO. 1158, AS AMENDED BY REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE OF 1997". Please be informed that the matter of reducing the present 10% value-added tax on the sale, barter or exchange of "real properties held primarily for sale to customers or held for lease in the ordinary course of trade or business" [ Vide: Sec. 106(A)(1)(a)] as well as the reduction of value-added tax to 2% on the services of real estate brokers or real property lessor [ Vide : Section 108(A)] is a matter of policy that is solely within the jurisdiction of the Department of Finance. For this reason, this Office deems it prudent to desist from commenting on the matter. Very truly yours, (SGD.) RENE G. BAEZ 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.