Computation of the Total Landed Cost of Articles Imported by Grantees of Tax Exemption
BIR Ruling No. 080-60 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jan 27, 1960
Full text
January 27, 1960 BIR RULING NO. 080-60 West Pacific Brokerage Corporation Room 306, Maritima Bldg. Dasmarias, Manila Gentlemen : This is in connection with our letter to you dated February 10, 1969 regarding the amount of customs duties that should be included in the computation of the total landed cost of articles imported by grantees of tax exemption under Republic Act No. 35 as amended by Republic Act 901. In accordance with the opinion of the Secretary of Finance, the entire customs duty and not the amount actually paid as customs duty should be included in computing the total landed cost of the imported article. In view thereof, the ruling of this Office embodied in our letter to you dated February 10, 1959, is hereby revoked. prcd Very truly yours, MELECIO R. DOMINGO 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.