Imported Raw Materials Subject to 7% Advance Sales Tax Plus 25% Mark-up
BIR Ruling No. 034-68 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Nov 13, 1968
Full text
November 13, 1968 BIR RULING NO. 034-68 Mr. Magin A. Salmingo Acting Deputy Collector of Customs Airport Customhouse Pasay City S i r : This has reference to your letter dated May 21, 1968 requesting information as to the rate of sales or compensating tax to be imposed on imported raw materials in powder form non-odoriferous, bactericide to be used in the manufacture of Dial soap. In reply, I have the honor to inform you that the aforecited imported raw materials to be used by the importer in the manufacture of Dial soap are subject to the 7% advance sales tax, based on the landed cost thereof plus 25% mark-up pursuant to Section 183(b) in relation to Section 186, both of the Tax Code. cdt Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.