Rate of Tax Payable by Schering Corporation Phils., Inc. on Its Importation of Polyethylene Glycol
BIR Ruling No. 464-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 26, 1988
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September 26, 1988 BIR RULING NO. 464-88 126; 145 (a) (3); 101 000-00 (a) 464-88 Gentlemen : In reply to your letter dated August 11, 1988 requesting a ruling as to the correct rate of tax payable by your client, Schering Corporation Phils., Inc. on its importation of Polyethylene Glycol (Carbowax 400) which is intended for pharmaceutical use, please be informed that under Section 126 of the Tax Code, as amended by Executive Order No. 273, the value-added tax shall be in addition to the specific tax thereon. Accordingly, the aforesaid importation is subject to excise tax of P3.50 per kilogram pursuant to Section 145(a)(3) of the Tax Code as amended and to the 10% value-added tax under Section 101(a) of the same Code. Under Section 103(d), wax is not exempt from VAT. Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner
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