10% Compensating Tax — Copper Tubes and Hollow Bars
BIR Ruling No. 032-80 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 25, 1980
Full text
February 25, 1980 BIR RULING NO. 032-80 Macortiz Engineering, Inc. 425 Quezon Avenue Quezon City Attention: Mr . Maximo L . Ortiz President Gentlemen : In reply to your letter dated January 3, 1980, please be informed that your importations of copper tubes and hollow bars to be used in your various construction projects are subject to the 10% compensating tax pursuant to Section 204, in relation to Section 199, both of the National Internal Revenue Code, as amended.(See Section 6, III-B, Revenue Regulations No. 8-78). However, said importations will be subject to the corresponding advance sales tax, if the same are subsequently sold, bartered or exchanged by you. Very truly yours, RUBEN B. ANCHETA Acting Commissioner
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