BIR Ruling No. 001-62

January 10, 1962 BIR RULING NO. 001-62 Mr. Simeon F. Tiongco Certified Public Accountant 857 Zacateros, Santa Cruz M a n i l a S i r : Reference is made to your letter of even date, requesting information on the rate of advance sales tax due on the metal locks and buckles imported by your client, Mr. Ong Siong Puan of 74 Don Jose St., Sta. Mesa Heights, Quezon City. You stated that said locks and buckles, samples of which were submitted with your letter, will be used for school bags and bolts, respectively, being manufactured by Mr. Ong Siong Puan. In answer thereto, I have the honor to inform you that based on your representations, and it appearing that said articles are not made of precious metals or imitations thereof, the same are subject to the advance sales tax at the rate of 7% only, pursuant to section 183(b), in relation to section 186, of the National Internal Revenue Code. This serves as authority for the Commissioner of Customs, Manila, to effect the release of the abovementioned importations upon prepayment of the 7% advance sales tax, provided that upon inspection thereof, the same are to be of the kind used for school bags and belts and are not made of precious metals for imitations thereof. cdtech Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue