BIR Ruling [DA-302-97]

September 3, 1997 BIR RULING [DA-302-97] Fil-Estate Realty Corporation 4th floor, Quadstar Building Ortigas Avenue, Greenhills San Juan, Metro Manila Attention: Mr. Teofilo G. Bayanin SVP-Finance Gentlemen : This refers to your letter dated May 22, 1997, requesting that you be allowed to pay your value-added tax liability for the Fiscal Year ended September 30, 1996 amounting to P7,695,427.01 in six monthly equal installments, including twenty-five percent (25%) surcharge in the amount of P1,923,856.75 and interest at the rate of twenty percent (20%) per annum, to be computed as each installment falls due, pursuant to Sections 248 and 249 of the Tax Code, as amended. In reply, please be informed that your request is hereby granted. Accordingly, you are requested to submit to this Office a schedule of installment payments showing the recomputed VAT liability, date when each installment will fall due, and the amount due as adjusted to reflect the surcharge and updated interest, for our approval. Very truly yours, (SGD.) LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue