BIR Ruling No. 050-83

March 24, 1983 BIR RULING NO. 050-83 Gentlemen : In reply to your letter dated September 29, 1981, I have the honor to inform you that as a company registered with the Board of Investments on a pioneer status with Certificate of Registration No. 79-1032 dated May 23, 1979 whose project (high pressure and hydraulic rubber hoses) was registered under Section 6(b), R.A. 6135, per Board Resolution No. 1309 dated December 28, 1978, you are exempt from all internal revenue taxes except income tax on a graduated basis, pursuant to Section 8(a) of Republic Act No. 5186 as incorporated in Article 46(a), Chapter II of Presidential Decree No. 1789, otherwise known as the Omnibus Investment Code, to the following extent: cdti (1) One hundred per cent (100%) for the first five years; (2) Seventy-five per cent (75%) for the sixth through the eight years; (3) Fifty per cent (50%) for the ninth and tenth years; (4) Twenty per cent (20%) for the eleventh and twelfth years; and (5) Ten per cent (10%) for the thirteenth through the fifteenth year. Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner Bureau of Internal Revenue