BIR Ruling No. 049-62

February 15, 1962 BIR RULING NO. 049-62 The Masipit Lumber Co., Inc. 205 Juan Luna M a n i l a Gentlemen : Reference is made to your letter dated August 28, 1961, requesting a ruling whether or not the nuts harvested from lumbang trees planted and grown by that company or leased property are agricultural products, the sale of which or manufacture into oil is exempt. From the payment of percentage tax and forest charges under section 188(b) and 269 of the Tax Code, respectively. Pictures with brief explanation have been submitted by you, showing the different lumbang cultivation. In reply thereto, I have the honor to inform you that the sale of lumbang nuts is not subject to the sales tax, the same being an agricultural product. However, lumbang oil manufactured or extracted therefrom is subject to the 7% sales tax prescribed in Section 186 of the Tax Code. No forest charges are due on the sale of said nuts and oil. aisadc Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue