BIR Ruling [DA-303-97]

September 3, 1997 BIR RULING [DA-303-97] Fil-Estate Sales, Inc. 16th Floor Strata 100 Condominium Emerald Avenue, Ortigas Pasig City Attention: Ms. Virginia A. Caringal Senior Finance Manager Gentlemen : This refers to your letter dated May 22, 1996, requesting that you be allowed to pay your value-added tax liability for the Fiscal Year ended September 30, 1996 amounting to P12,813,989.10 in six monthly equal installments, including the twenty-five percent (25%) surcharge thereon in the amount of P3,203,497.28 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