Tax Imposed on Imported Hardware Items such as Springs, Hinges, Steel Tubes and Bars Used in the Manufacture of Iron and Steel Beds
BIR Ruling No. 273-60 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jun 23, 1960
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June 23, 1960 BIR RULING NO. 273-60 Mr. Angel S. Gamboa R-408, 4th Floor Ayala Bldg. 120 Juan Luna, Manila S i r : In answer to your letter dated May 6, 1969, I have the honor to inform you that the so-called hardware items mentioned therein, such as springs, hinges, steel tubes and bars used in the manufacture of iron and steel beds, are when imported subject to 7% advance sales tax. The deductible cost of imported raw materials consists of the landed cost plus the corresponding mark-up. prcd Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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