Non-deductibility of the Cost of Raw Materials Imported Tax-free by Tax-exempt Industries
BIR Ruling No. 550-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 26, 1959
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October 26, 1959 BIR RULING NO. 550-59 The Regional Director Regional District No. 4 Quezon City S i r : In reply to your letter dated May 8, 1959, I have the honor to inform you that the cost of raw materials imported tax-free by tax-exempt industries prior to January 1, 1959 and subsequently used by them in their manufacture on or after said date is not deductible, for purposes of the sales tax, from the gross selling price of the finished products, pursuant to the ruling contained in the second indorsement of the Secretary of Finance dated April 23, 1959. prcd Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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