Tax Exemption Granted to Chemical Specialties Corporation
BIR Ruling No. 300-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jun 17, 1959
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June 17, 1959 BIR RULING NO. 300-59 Mr. Felixberto C. Reyes Gen. Mgr., Chemical Specialties Corp. c/o Concepcion Beauty Shop Tarlac, Tarlac S i r : In reply to your letter of January 23, 1959, we quote hereunder the Opinion of the Secretary of Finance dated February 17, 1959: "The Chemical Specialties Corporation was granted tax exemption under Republic Act No. 901 in respect to the manufacture of machineless pads for curling and hair waving solution. As such grantee it is exempt from the payment of all taxes, national and local, directly payable by it in respect to the tax-exempt industry, to the extent of 90% of such taxes for the period from January 1 to December 31, 1959, pursuant to section 1 of said Act." Please be guided accordingly. aisadc Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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