BIR Ruling No. 278-61
BIR Ruling No. 278-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Aug 7, 1961
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August 7, 1961 BIR RULING NO. 278-61 In reply to your letter . . . , I have the honor to inform you that the P20,000 cost of raw materials and chemicals imported by you during 1960 on which you paid only 25% tax in accordance with Republic Act No. 901 is nevertheless deductible, for purposes of computing your manufacturer's percentage tax, from the gross selling price of the articles manufactured therefrom even if used by you in your manufacture in 1961 when you are enjoying 50% tax exemption. LexLib
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