Exemption of the Proprietor of a Business Engaged in the Buying and Selling of Agricultural Food Products from VAT
BIR Ruling No. 072-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 4, 1988
Full text
March 4, 1988 BIR RULING NO. 072-88 103 (b) 000-00 072-88 Gentlemen : In reply to your letter dated December 21, 1987, please be informed that as the proprietor of a business engaged in the buying and selling of agricultural food products, you are exempt from the value-added tax pursuant to Section 103(b) of the Tax Code, as amended by Executive Order No. 273. Sale of agricultural food products is exempt in all stages of production or distribution if sold in their original state. (Sec. 9(b)(2), Rev. Regs. No. 5-87) Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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