Donor's Tax and The ¼ of 1% Stock Transaction Tax
BIR Ruling No. 094-79 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 15, 1979
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October 15, 1979 BIR RULING NO. 094-79 70% Advance sales tax "Weathershield" as part and accessory In reply to your letter dated July 18, 1979, please be informed that "Weathershield" imported by Transmediterranean Trading, which importation is described as a shield designed to "keep rain and strong winds out" oven when car windows are rolled down is considered as part and accessory of a automobile principally for ornamentation or embellishment; hence, it is subject to 70% advance sales tax based on landed cost thereof, plus 100% mark-up, imposed by Section 195, in relation to Section 193(b), both of the Tax Code of 1977, as amended by P.D. No. 1357.
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