Tax Imposed on the Sale of Oil Extracted from Peanuts
BIR Ruling No. 343-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 9, 1959
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July 9, 1959 BIR RULING NO. 343-59 The Central Vegetable Oil Manufacturing Co. P. O. Box 2816, Manila Gentlemen : With reference to your letter dated June 20, 1959, I have the honor to inform you that, for selling oil extracted by that company from peanuts, you are subject to the fixed annual tax of P20.00 and to the 7% sales tax, based on the gross selling price thereof, pursuant to sections 182(A)(1) and 186 of the National Internal Revenue Code, respectively. aisadc Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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