Deductible Cost of Raw Materials in the Case of Imported and Locally Purchased Raw Materials
BIR Ruling No. 278-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • May 14, 1959
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May 14, 1959 BIR RULING NO. 278-59 Mr. Emilio F. Daba-ay 408 A. Juan Street San Juan, Rizal S i r : With reference to your letter dated January 30, 1959, I have the honor to inform you that, for purposes of the sales tax, the deductible cost of raw materials consist, in the case of imported raw materials, of the landed cost plus the mark-up and, in the case of locally purchased raw materials, the actual purchase price. The actual purchase price includes the tax, whether or not billed as a separate item. cdll Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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