Estimated Life of a Landing Craft for Tank (LCT)
BIR Ruling No. 419-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Aug 27, 1959
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August 27, 1959 BIR RULING NO. 419-59 Basay Sawmill Company Basay, Bayawan Negros Oriental Attention : Mr . Romeo P . Flores Gentlemen : With reference to your letter dated August 1, 1959 inquiring as to the estimated life of a Landing Craft for Tank (LCT), in connection with the yearly provision of depreciation for income tax purposes, I have the honor to inform you as follows: Landing Craft (LCT) is classified under barges, lighters and scows. While this Office has no official list of tables of useful life of depreciable property in the Philippines, we rely upon Bulletin "F" published by the Internal Revenue Service of the United States which contains a table of useful life of a depreciable property, "the determination of which has been the result of scientific studies and observation for a long period in the United States after whose income tax law ours is patterned". (Mariano Zamora vs. Collector of Internal Revenue, CTA Case No. 234, December 29, 1958) Bulletin "F" provides under item "Water Transportation, " that barges, lighters and scows have an average useful life of 30 years. cdtech Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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