Taxability of a Purchaser of Logs Exclusively for Export
BIR Ruling No. 386-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 21, 1958
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July 21, 1958 BIR RULING NO. 386-58 Mr. Rosauro Azcarraga Plaza Building, Plaza Rizal Zamboanga City S i r : In answer to the queries propounded in your letter dated November 22, 1957, I have the honor to inform you as follows: A purchaser of logs exclusively for export is subject to the graduated fixed annual tax, the amount of which depends on his gross sales during the preceding year. Deficiency taxes for prior years are deductible from the gross income in the year they were paid, pursuant to Section 30(c)(1) of the Tax Code. Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
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