BIR Ruling No. 147-82

April 23, 1982 BIR RULING NO. 147-82 325-00 000-00 147-82 Joint Venture Fischer Engineering & Maintenance Co., Inc. and Chin Yang Construction Co., Inc. 750 E. de los Santos Avenue Pasay City Attention: Lee Chul Min Authorized Representative Gentlemen : This refers to your letter dated May 18, 1981 requesting a ruling whether you are required to secure a taxpayer account number or to use the taxpayer account number of one of the joint ventures. It is represented that a certificate of authority was issued by the Board of Investment in your favor authorizing you to undertake exclusively foreign assisted government projects, more particularly the construction of Package 2 of the Tagaytay-Batangas Road project; that you tried to secure a taxpayer account number for the joint venture but you were advised to register first with the Securities and Exchange Commission; and that the SEC informed you that there is no need for you to register with them since the formation of a joint venture does not create an independent legal or business entity. In reply, please be informed that pursuant to the SEC Bulletin Vol. IX No. 3, July, 1975 the creation of a joint venture creates a status or relationship between the parties but does not create an independent legal or business entity. It is for this reason that unless a corporation or a partnership is created, joint ventures are not registrable with the Securities and Exchange Commission. However, under Section 325 of the Tax Code, as amended, it provides that any person required under the authority of this Code to make, render, or file a return, statement, or other document shall be supplied with or assigned a taxpayer account number which he shall include in such return, statement or document filed with the Commissioner for his proper identification for tax purposes. In view thereof, since as a joint venture, you are required to file a return or statement with this Bureau, you should secure a taxpayer account number even if you are not registered with the Securities and Exchange Commission. You may not use the taxpayer's account number of one of your joint ventures. Please be guided accordingly. cdtech Very truly yours, RUBEN B. ANCHETA Acting Commissioner