BIR Ruling No. 290-61
BIR Ruling No. 290-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 26, 1961
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July 26, 1961 BIR RULING NO. 290-61 In reply to the letter . . . of a Free press reader, . . . attached to your letter . . . , I have the honor to inform you that owners of bancas (dugout canoe) powered by a motor who use such bancas in fishing, transporting or hauling merchandise belonging to them or to others for a fee are not subject to any fixed tax. However, a vessel made of lumber nailed together, not dugout of big trees is not a banca. Owners of such vessels, regardless of whether or not they are motor-powered, who use the same transporting persons or merchandise for a fee are subject to the transportation contractor's fixed and percentage taxes prescribed in Sections 182 and 192 of the Tax Code. LLphil
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