Request for Exemption from Expanded Withholding Tax on Income Payments under Revenue Regulations No. 12-94

March 16, 1995 BIR RULING NO. 057-95 50 000-00 057-95 San Miguel Campofrio Corporation PCPD Bldg., Nicholas Interchange, 1200 Makati, Metro Manila Attention: Mr . Jose T . Valencia Vice President-Finance Gentlemen : This refers to your letter dated August 11, 1994 requesting exemption from the expanded withholding tax on income payments to you under Revenue Regulations No. 12-94. It is represented that you are registered with the Board of Investments as a New Domestic Producer of Fresh Processed Meat Products under Executive Order No. 226 otherwise known as the Omnibus Investments Code of 1987; and that under the terms of your registration, you are entitled to an income tax holiday for four (4) years from November 1992. In reply thereto, please be informed that Section 4(b)(2) of Revenue Regulations No. 8-85 as amended by Revenue Regulations No. 12-94 provides that income payments to "persons enjoying exemption from payment of income taxes pursuant to the provisions of the Omnibus Investments Code of 1987, as amended" shall be exempt from the from the expanded withholding tax. Such being the case, and since as represented you are registered with the BOI as a "New Domestic Producer of Fresh Processed Meat Products" enjoying an income tax holiday for four (4) years from November 1993, income payments to you shall be exempt from the expanded withholding tax under Section 4(b)(2) of Revenue Regulations No. 8-85 as amended by Revenue Regulations No. 12-94. This ruling is being issued on the basis of the foregoing facts as represented. However, if upon investigation, it will be disclosed that the facts are different, then this ruling shall be considered null and void. prcd Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue