Amended Rules and Regulations for the Effective Implementation of R.A. No. 7686 (Dual Training System Act of 1994)

January 24, 1975 Giltrade Equipment & Construction, Inc. Corner Bernardino & Coronado Sts. Guadalupe Viejo Makati, Rizal Attention: Mr . Jesus M . Tupalar Auditor Gentlemen : This refers to your letter dated January 21, 1975 requesting information as to what tax your business is liable. It is represented that you are engaged in the business of renting heavy construction equipment such as, trucks, tractors, cranes and trailers by contract, either written or verbal to business establishments and to the government; that you are provided with transportation permit or franchise to operate said trucks and trailers. casia In reply, I have the honor to inform you that under the foregoing circumstances, you are considered a lessor of personal property subject to the annual fixed tax of P50.00 and to the 3% tax based on the rentals you receive out of the leased construction equipment in accordance with Sections 182 (A) (1) and 191 (17) of the Tax Code, as amended by Presidential Decree No. 69. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5