Tax on Plastic Bingo Markers Manufactured by Polymertex Plastic Chemicals
BIR Ruling No. 140-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 26, 1958
Full text
February 26, 1958 BIR RULING NO. 140-58 Ocampo & Ocampo Law Office 240 Villalobos, Quiapo Manila Gentlemen : In answer to your letter of the 25th instant, I have the honor to inform you that the plastic bingo markers being manufactured by your client, the Polymertex Plastic Chemicals, samples of which have been submitted by you, are subject to the 7% sales tax, based on the gross selling price thereof minus the total costs of raw materials which had previously been subjected to said tax, pursuant to Section 186 of the National Internal Revenue Code, as amended. LibLex Very truly yours, (SGD.) JOSE ARAAS 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.