Exemption from the 10% Overseas Communications Tax
BIR Ruling No. 031-80 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 19, 1980
Full text
February 19, 1980 BIR RULING NO. 031-80 The Overseas Economic Cooperation Fund of Japan 12th Flr., Citibank Bldg. Paseo de Roxas, Makati Metro Manila Attention: Mr . Mitsuhiro Sasanuma Chief Representative to the Philippines Gentlemen : In reply to your letter dated August 16, 1979, I have the honor to inform you that the Exchange of Notes between the representatives of the Government of Japan and the Government of the Republic of the Philippines covering the Project and Commodity Loans extended to the Philippines by that Fund states as follows: cd "4. (1) The Government of the Republic of the Philippines will exempt the Fund from all fiscal levies or taxes imposed in the Republic of the Philippines on and/or in connection with the Project Loan and the Commodity Loan as well as interest accruing therefrom." In view thereof, payments made by that Fund on outgoing communications messages in connection with the abovementioned loans are exempt from the 10% overseas communications tax prescribed in Section 290-A of the National Internal Revenue Code of 1977, as amended. cdt Very truly yours, EFREN I. PLANA Acting Commissioner
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