Payment of the Deficiency Tax on the Importation of Ford Consul Sedans
BIR Ruling No. 265-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • May 13, 1958
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May 13, 1958 BIR RULING NO. 265-58 The Commissioner of Customs Manila S i r : In connection with the importation by the Golden Taxicab of fifteen units of Ford Consul sedans in completely knocked down condition, I have the honor to inform you that, inasmuch as a surety bond has been filed with this Office by the importer to guarantee the payment of the deficiency tax in case the shipment in question is subject to the 50% compensating tax, the said shipment may be released from customs custody upon payment by the importer of the 7% compensating tax, based on the total land cost thereof without mark-up. LLpr Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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