BIR Ruling No. 047-65
BIR Ruling No. 047-65 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • May 18, 1965
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May 18, 1965 BIR RULING NO. 047-65 Mr. Antonio Franco Attorney-at-Law Phoenix Bldg., W.C. R-314 M a n i l a S i r : In reply to your letter dated March 5, 1965, I have the honor to inform you that the importation by mail of gold coins of foreign countries for numismatic and/or commercial purposes is subject to either the 50% compensating or advance sales tax prescribed by Sections 190 and 183(b), in relation to Section 184(b), all of the Tax Code depending upon whether the said coins are intended for personal collection or commercial purpose. This is for the reason that for tax purposes such coins are considered removed from the category of legal tender and became ordinary articles of commerce. cdtech Very truly yours, (SGD.) BENJAMIN N. TABIOS Acting Commissioner of Internal Revenue
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