10% VAT Exemption on Gross Receipts of Broadcast Companies
BIR Ruling No. 347-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 21, 1988
Full text
July 21, 1988 BIR RULING NO. 347-88 103 (j) 187-88 347-88 Gentlemen : In reply to your letter dated April 19, 1988, please be informed that broadcast companies are subject to the percentage tax under Title V, particularly Section 117(b) of the Tax Code, as amended by Executive Order No. 273. Accordingly, the gross receipts of broadcast companies are exempt from the 10% value-added tax pursuant to Section 9(b)(10)(E) of Revenue Regulations No. 5-87 amplifying Section 103(j) of the Tax Code as amended. Moreover, beginning January 1, 1983, broadcast companies are no longer subject to the annual fixed tax of P2,000.00 as franchise grantees. Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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