Importation and Sale of Quick Cooking Oats is Subject to 10% Advance Sales Tax
BIR Ruling No. 273-87 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 9, 1987
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September 9, 1987 BIR RULING NO. 273-87 162 (c) 163 (2) 000-00 273-87 S i r : In reply to your letter dated May 20, 1987 requesting a ruling as to the rate of percentage tax payable by your client, New Hamilton Foods Corporation, on its importation and sale of quick cooking oats, please be informed that the said importation is subject to 10% advance sales tax based on the total value used by the Bureau of Customs in determining tariff and customs duties including customs duties and other charges pursuant to Section 162(c) in relation to Section 163(2), both of the Tax Code, as amended by Executive Order No. 36 which took effect August 1, 1986. iatdc Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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