Deductibility of the Cost of Raw Materials Purchased from Tax-exempt Industries
BIR Ruling No. 079-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 18, 1959
Full text
February 18, 1959 BIR RULING NO. 079-59 Messrs. Sycip, Gorres, Velayo & Co. Certified Public Accountants 490 San Luis, Manila Gentlemen : In reply to your letter dated February 11, 1959, I have the honor to inform you that the cost of raw materials purchased from tax-exempt industries is deductible, for purposes of the sales tax, from the gross selling price of the articles manufactured therefrom regardless of whether or not the manufactured articles are taxed under Sections 184, 185, or 186 of the Tax Code, pursuant Section 186-A of the Tax Code, a new section introduced into the said Code by Republic Act No. 2025 which took effect on June 22, 1957. cdti Very truly yours, (SGD.) JOSE ARAAS 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.