BIR Ruling No. 133-62
BIR Ruling No. 133-62 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Nov 27, 1962
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November 27, 1962 BIR RULING NO. 133-62 Sanchez & De Los Reyes Law Office 613 Bank of the Philippine Island, Bldg. Plaza Cervantes, Manila Gentlemen : In answer to your letter dated September 17, 1962, requesting opinion as to what kinds of taxes are wavered by the exemption provisions of section 16, Republic Act No. 3470, the law creating the National Cottage Industries Development Authority. I have the honor to inform you that the exemption embraces business taxes only, it being limited to the "production, manufacture and sale of cottage products". "Sec. 16. The production, manufacture and sale of cottage products shall be exempt from all taxes for a period of five years from the date of registration of the person or firm engaged in the production or manufacture of cottage products with the Board." Accordingly, cottage industries are subject to income and additional residence taxes, both not being taxes on the production, manufacture or sale of a product. aisadc Very truly yours, JOSE B. LINGAD Acting Commissioner of Internal Revenue
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