Tax Imposed on the Shipment of Coils of Bright Galvanized Iron Soft Wire
BIR Ruling No. 503-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 12, 1958
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September 12, 1958 BIR RULING NO. 503-58 United Construction Company, Inc. 770 Aurora Boulevard Quezon City Gentlemen : In connection with the shipment to you of 361 coils of bright galvanized iron soft wire on board S.S. "Seibun Naru" under Bill of Lading No. YM-3, I have the honor to inform you that a careful study of the papers submitted by you disclosed that: cdt a. The construction of the Rita Legarda Building is on an administration basis at a fee of 6%; b. Under such arrangement, the cost of the building materials, used by you will not be included as part of your taxable receipts for percentage tax purposes; c. That under such circumstances, the importation made by you will technically be sold to the Rita Legarda, Inc. In view thereof, the said shipment is subject to the 7% advance sales tax prescribed by Section 183(B), relation to Section 186, both of the Tax Code, based on the total landed cost, plus the mark-up prescribed by Republic Act No. 594. prcd Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue By: (SGD.) ELIAS E. VEGA Revenue Operations Executive (Assessment)
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