A Joint Venture Organized to Undertake Pipelaying Construction Projects of the MWSS is Exempt from Income Tax
BIR Ruling No. 003-83 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jan 5, 1983
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January 5, 1983 BIR RULING NO. 003-83 In reply to your letter dated October 26, 1982, please be informed that as a joint venture organized for the purpose of undertaking pipelaying construction projects of the Metropolitan Waterworks and Sewerage System (MWSS) particularly your contract for the construction of the Manila Water Supply Project No. PG-33, you are exempt from income tax, pursuant to Section 20(b) and 24 both of the Tax Code of 1977, as amended. Accordingly, the provisions of Revenue Regulations No. 6-79, implementing Presidential Decree No. 1351, do not apply to income payments payable to your joint venture. cdtech Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner Bureau of Internal Revenue
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