Maintenance of 1 set of Sales And Purchase Journals
BIR Ruling No. 116-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 22, 1988
Full text
March 22, 1988 BIR RULING NO. 116-88 107 000-00 116-88 Gentlemen : This refers to your letter dated December 15, 1987 requesting exception from the requirement relative to the maintenance of subsidiary and purchase journalism of your refinery and in each of your terminals and stockpoints through the country affecting your sale of lubricating oils and greases. It is represented that your purchases and sales of these items are centrally computerized; and that you are prepared to submit only one set of sales and purchase journals affecting your sales of lubricating oils and greases. In reply, please be informed that since VAT-registered persons are required to maintain only one registration number pursuant to Section 18(a), Revenue Regulations No. 5-87, implementing Section 107 of Executive Order No. 273, your request to maintain one set of sales and purchase journals covering transactions in your refinery and terminal stockpoints throughout the country, is hereby granted. aisadc Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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.