Purchase of Petroleum Products from Oil Companies Subject to Specific and Ad Valorem Taxes
BIR Ruling No. 156-85 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 2, 1985
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September 2, 1985 BIR RULING NO. 156-85 153 000-00 156-85 Gentlemen : This refers to your letter dated July 17, 1985 requesting that you be allowed to purchase petroleum products, whether locally refined or imported, from the oil companies free of specific and ad valorem taxes, pending the issuance of a new Fiscal Incentives Review Board (FIRB) Resolution extending the restoration of NPC's tax and duty exemption privileges from July 1, 1985 to December 31, 1985. In reply, please be informed that under Presidential Decree No. 776, FIRB is empowered to modify, withdraw, revoke, suspend or restore incentives. Consequently, until such time that a new resolution is issued by the Board restoring the aforesaid incentives beyond June 30, 1985 (FIRB Resolution No. 10-85), a grant to you of the privilege to purchase from oil companies petroleum products, free from specific and ad valorem taxes is not warranted by law. For the foregoing reasons, your above request has to be, as it is hereby denied. aisadc Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner
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