BIR Ruling No. 062-62
BIR Ruling No. 062-62 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 12, 1962
Full text
March 12, 1962 BIR RULING NO. 062-62 The Manager Victory Business Agency 2nd Floor, the Remnants Center Bldg. 823 Juan Luna, Manila S i r : Reference is made to your letters dated February 14 and 21, 1962, respectively, requesting information on the rate of percentage tax payable on the plastic combs and Chinese checker toys being manufactured by your client. Samples of said articles have been submitted with your letter dated February 14, 1962. In reply thereto, I have the honor to inform you that the articles in question are subject to the 7% sales tax imposed under Section 186 of the Tax Code, based on the gross selling price thereof minus the total cost of raw materials which have been previously taxed under the same section. liblex Very truly yours, BENEDICTO PADILLA Acting Commissioner of Internal Revenue
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.