Charter Fees; 4.5% Final Tax
BIR Ruling No. 110-79 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Dec 12, 1979
Full text
December 12, 1979 BIR RULING NO. 110-79 Charter fees ; 4 . 5% final tax In reply to your letter dated January 8, 1979, I have the honor to inform you that pursuant to Section 24(b)(1)(v) of the Tax Code of 1977, charter fees payable to non-resident owners of vessels chartered by Philippine nationals and which charter or lease has been duly approved by the Maritime Industry Authority, shall be subject to 4.5% final tax, the return and payment of which shall be in accordance with Sections 53 and 54 of the Internal Revenue Code of 1977.
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