Exemption from Payment of DST on the First Preferred Mortgage Executed Abroad
BIR Ruling No. 029-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 9, 1988
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February 9, 1988 BIR RULING NO. 029-88 101 (e) 000-00 029-88 Gentlemen : This refers to your letter dated January 9, 1988, in effect, requesting a ruling on your importation of slop oil. It is represented that you are a manufacturer of petroleum product, i.e., bunker fuel; and that slop oil is used by you as a feedstock in the manufacture of bunker fuel. In reply, please be informed that your importation of slop oil to be used as raw material in the manufacture of bunker fuel is exempt from value-added tax pursuant to Section 103(e) of the Tax Code, as amended by Executive Order No. 273. This serves as your authority for the release from customs custody of your importation of 2,100 metric tons of slop oil covered by Bill of Landing No. MTK 20-01-02. aisadc Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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