Importation of Potassium Nitrate Exempt from VAT
BIR Ruling No. 106-97 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 29, 1997
Full text
September 29, 1997 BIR RULING NO. 106-97 103 (d) 217-88 063-90 106-97 L & S Chemical Supply, Inc. 24 Paterio Aquino Avenue Brgy. Tonsuya, Malabon 1473 Metro Manila Attention: Mr . Liberato S . de Jesus President Gentlemen : This refers to your letter dated February 28, 1997, in effect requesting this Office to confirm our earlier rulings to the effect that your importation of Potassium Nitrate is exempt from VAT. In reply, please be informed that as held by this Office in BIR Ruling No. 217-88 and VAT Ruling No. 063-90, the chemical known as Potassium Nitrate is a fertilizer; hence your importation of the same is exempt from the 10% value-added tax pursuant to Section 103(d) of the Tax Code, as amended by R.A. No. 7716. aisadc Very truly yours, LIWAYWAY VINZONS-CHATO 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.