Registration of a Joint Venture
BIR Ruling No. 335-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 18, 1988
Full text
July 18, 1988 BIR RULING NO. 335-88 107 (a) 000-00 335-88 Gentlemen : This refers to your letter dated June 21, 1988 stating that your client EQUITABLE MACHINES, INC. entered into a verbal agreement with Monark Constructors Corporation to form a joint venture to render service for a quarry work; and that since the rendering of service is subject to VAT, you pose the question as to how a joint venture can be registered. In reply, please be informed that since a joint venture operates as a single entity to render the service, said joint venture should be registered under the VAT law as required by Section 107(a) of the Tax Code, as amended by Executive Order No. 273. cdt Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.