Whether the Importation of Comics Like Archies Digest, Marvel Comics, Diamond Comics and Other Illustrated Comics Magazines are Exempted from Value-Added Tax
BIR Ruling No. 176-95 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 25, 1995
Full text
October 25, 1995 BIR RULING NO. 176-95 103 (f) 000-00 176-95 Mr. Mamerto S. Maglanaue Block 9, Lot 39 Carmella Townhomes Classic SAV I, Sucat, Paraaque Metro Manila Gentlemen : This refers to your letter dated June 7, 1995 requesting for a confirmation of your opinion that the importation of comics like Archies Digest, Marvel Comics, Diamond Comics and other illustrated comics magazines are exempted from value-added tax. LexLib In reply, please be informed that the importation of the above magazines is exempt from value-added tax under Section 103(f) of the Tax Code, as amended, which states: "SEC. 103. Exempt Transaction . The following shall be exempt from value added tax; "(a) "xxx xxx xxx "(f) Printing, publication, importation or sale of books and any newspaper, magazine, review, or bulletin which appears at regular intervals with fixed prices for subscription and sale and which is not devoted principally to the publication of advertisement. "xxx xxx xxx" Accordingly, your opinion that the importation of the said comics magazine is exempt from value-added tax in hereby confirmed. LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue
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