25% Advance Sales Tax — Imported Time Recorders or Bundy Clocks
BIR Ruling No. 040-80 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • May 7, 1980
Full text
May 7, 1980 BIR RULING NO. 040-80 New London Metalcrafts Engineering St., Araneta Subd. Malabon, Metro Manila Attention: Mr . Thomas Go Gentlemen : In reply to your letter dated October 27, 1979, please be informed that imported time recorders or bundy clocks are classified under Department Order No. 17-78, dated June 20, 1978 of the Department (now Ministry) of Finance as similar or analogous to watches, clocks, cases and movements therefore under Section 197(c) of the National Internal Revenue Code, as amended.Consequently, your importation of time recorders or bundy clocks is subject to the 25% advance sales tax based on the landed cost thereof plus 50% mark-up pursuant to Section 193(b) in relation to Section 197(II) both of the National Internal Revenue Code, as amended. Very truly yours, RUBEN B. ANCHETA Deputy Commissioner
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