Release of 10 Drums of Petrolatum from the Customs Custody

August 29, 1960 BIR RULING NO. 367-60 Marinduque Iron Mines Agents, Inc. Elizalde Bldg., P. O. Box 121 M a n i l a Attention : Mr . Jacob E . Cabarrus S i r : Reference is made to your letter dated July 21, 1960, requesting the release of ten (10) drums of petrolatum from the customs custody upon payment of 7% advance sales tax due thereon, it being represented that the aforesaid petrolatum were sold to the General Rubber & Footwear Corporation for the manufacture of rubber soling exclusively. cdt In reply thereto, I have the honor to inform you that, if as represented by you that the said articles are to be used in the manufacture of rubber soling only the same may be released from customs custody upon payment of the 7% advance sales tax due thereon (B.I.R. Ruling 335, s. of 1959). In this connection, it is requested that this office be furnished at the end of each month, and thereafter until the said articles shall have been consumed, with the following sworn statements in triplicate: (a) the quantity of petrolatum used during the period and the manner of disposition; (b) the quantity of rubber soling manufactured during the period; and (c) the quantity of petrolatum unused at the end of the period. Strict compliance with the above requested report is desired; otherwise, your failure to do so will be construed as a violation of the conditions upon which the release of the aforesaid petrolatum is predicated and, therefore, this Office will proceed against you accordingly. casia Very truly yours, (SGD.) MISAEL P. VERA Deputy Commissioner of Internal Revenue