Release of Glass Beads Shipment Upon Prepayment of Sales Tax

March 26, 1958 BIR RULING NO. 201-58 Miss Remedios Ong P.O. Box 894 Manila M a d a m : With reference to your shipment of the glass beads covered by Invoice No. 25553 issued by Elliot, Greene & Co., Inc., New York 18, New York, samples of which have been submitted to this Office, I have the honor to inform you that, pending further study on the correct rate of advance sales tax due thereon, the same can be released upon prepayment of the 7% advance sales tax, based on the total landed cost thereof plus 25% mark-up. It is understood that the corresponding deficiency sales tax shall be collected on the aforesaid importation should this Office finally determine that the same are subject to the 50% advance sales tax. cdtech This serves as authority for the Commissioner of Customs to release the articles in question upon prepayment of the 7% sales tax as indicated above. Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue