BIR Ruling [UN-285-95]
BIR Ruling [UN-285-95] • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jul 31, 1995
Full text
July 31, 1995 BIR RULING [UN-285-95] 1st Indorsement Referred to the Revenue District Officer, Revenue District No. 47, East Makati, Revenue Region No. 8, Makati City, BIR Ruling No. UN-239-95 dated June 30, 1995, to the effect that the gross receipts of Mitsubishi Corporation, a corporation organized and existing under the laws of Japan under its contract with Mindanao 1 Geothermal Partnership (Partnership) a partnership organized and existing under the laws of the Philippines, is subject to VAT of zero percent (0%) Investigation is requested on the representation of the counsel for the Partnership that the total payment to Mitsubishi Corporation in US $dollars will come from the general operating account of the Partnership in Citibank, New York, which will be remitted inwardly to the Philippines and accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas. aisadc Your usual prompt action and report hereon are earnestly requested. ALICIA P. CLEMENO Assistant Commissioner (Legal Service)
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