Request for Exemption from the Creditable Withholding Tax Prescribed under Revenue Regulations No. 12-94

December 2, 1994 BIR RULING NO. 163-94 50 (b) 000-00 163-94 Republic-Asahi Glass Corporation 6th Floor, Republic Glass Building 196 Salcedo St., Legaspi Village Makati, Metro Manila Attention: Mr . Rolando R . Abratique Senior Manager Gentlemen : This refers to your letter dated August 19, 1994 stating that your company is registered with the Board of Investments (BOI) as a manufacturer of Float and Tampered Glass on a pioneer status; and that under your registration, BOI granted you six (6) years tax holiday from payment of income taxes in accordance with the provision of the Omnibus Investments Code of 1987. prcd Based on the foregoing representations, you now request exemption from the creditable withholding tax prescribed under Revenue Regulations No. 12-94. In reply, please be informed that under Section 4(b)(2) of Revenue Regulations No. 6-85, as amended by Revenue Regulations No. 12-94 implementing Section 50(b) of the Tax Code, as amended, the withholding tax prescribed in these regulations shall not apply to income payments to persons enjoying exemption from payment of income taxes pursuant to the provisions of the Omnibus Investments Code of 1987, as amended. Accordingly, since you are registered with the BOI and enjoying exemption from the payment of income taxes for a period of six (6) years from November 1990 in accordance with the Omnibus Investments Code of 1987, this Office is of the opinion as it hereby holds that you are exempt from the creditable expanded withholding tax imposed under Revenue Regulations No. 6-85 as amended by Revenue Regulations No. 12-94 on income payments received by your company from November, 1990 to November, 1996. cdt Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue