BIR Ruling No. 288-82

November 17, 1982 BIR RULING NO. 288-82 224 000-00 288-82 Lead Smelters, Inc. Scout Santiago cor. Marathon Diliman, Quezon City Attention: Mr . Jesus R . Montemayor Vice President-Finance Gentlemen : In reply to your letter dated August 20, 1982, I have the honor to inform you that as a company registered with the Board of Investments on July 1, 1981 under Certificate of Registration No. 81-061 as a preferred pioneer enterprise for the production/manufacture of pure refined lead, you are exempt from all internal revenue taxes except income tax on a graduated basis, pursuant to Section 8(a) of R.A. No. 5186, as incorporated in Article 46(a), Chapter II of P.D. No. 1789, otherwise known as the Omnibus Investment Code. cdt Accordingly, you are exempt from the payment of documentary stamp tax on your original issue of certificates of stock as lead manufacturer to the following extent: (1) One hundred per cent (100%) for the first five years; (2) Seventy-five per cent (75%) for the sixth through the eight years; (3) Fifty per cent (50%) for the ninth and tenth years; (4) Twenty per cent (20%) for the eleventh and twelfth years; and (5) Ten per cent (10%) for the thirteenth through the fifteenth year. cdt Very truly yours, RUBEN B. ANCHETA Acting Commissioner