BIR Ruling No. 174-61

May 18, 1961 BIR RULING NO. 174-61 Messrs. Chua Un Sian & Co. 739 Caballeros St. Manila Gentlemen : In answer to your letter dated May 15, 1961, I have the honor to inform you that, pursuant to the ruling embodied in the letter dated March 8, 1955 of the Secretary of Finance holding that your business of manufacturing tin cans out of tin plates supplied by your customers falls within the purview of your tax exemption, receipts derived by you for manufacturing tin cans for customers who supply you with the raw materials used therefor are not subject to any privilege tax. Neither is said business subject to the fixed annual tax prescribed in Section 182(A)(1) of the National Internal Revenue Code. It is understood, however, that full exemption from the above-mentioned taxes ceased after December 31, 1958, because during the years 1959, 1960, 1961 and 1962 you are only entitled to the diminishing exemptions of 90%, 75%, 50% and 10%, respectively. LibLex Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue By: (SGD.) MISAEL P. VERA Deputy Commissioner of Internal Revenue