BIR Ruling No. 418-61

November 16, 1961 BIR RULING NO. 418-61 Reference is made to the 1st Indorsement . . of that Department, requesting comment and recommendation on the contemplated sale by Caltex (Phil.), Inc. of the equipment, machinery, materials, instrument, supplies and accessories mentioned in the letter . . . of its accountants, Messrs. Sycip, Gorres, Velayo & Co., under the conditions enumerated therein. cdta This Office finds nothing objectionable in the contemplated sale by Caltex (Phil.), Inc. of the above-mentioned articles under said conditions, provided that the sales tax on those articles, minus the compensating tax previously paid thereon, is first paid before title to and possession of them are transferred to the purchaser or purchasers and provided further that two (2) copies of the report mentioned in paragraph No. 7 of the conditions are furnished this Office. The basis of the sales tax, in the case of the unused articles, shall be the total landed cost thereof plus the corresponding mark-up, while in the case of the used ones, the actual selling-price thereof. In view thereof, it is respectfully recommended that the contemplated sale, with the additional conditions mentioned above, be approved. prll The papers bearing on this case are herewith respectfully returned.