Deductibility of the Cost of Raw Materials Purchased from Tax-Exempt Industries
BIR Ruling No. 289-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jun 8, 1959
Full text
June 8, 1959 BIR RULING NO. 289-59 Messrs. Sycip, Gorres, Velayo & Ci. Certified Public Accountants 490 San Luis, Manila Attention : Mr . A . S . Monzon S i r : In reply to your letter dated May 20, 1959, I have the honor to inform you that the cost of raw materials purchased from tax-exempt industries during the period when they are enjoying only a partial exemption is nonetheless deductible from the gross selling price of the articles manufactured therefrom, pursuant to Section 186-A of the Tax Code. cdt Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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