Foreign Exchange Conversion Rate
Revenue Memorandum Circular No. 32-84 • Bureau of Internal Revenue (BIR) Issuances • Revenue Memorandum Circulars • Nov 7, 1984
Full text
November 7, 1984 REVENUE MEMORANDUM CIRCULAR NO. 32-84 SUBJECT : Foreign Exchange Conversion Rate In determining (for income tax purposes) the cost basis of certain commodities imported beginning January 1, 1984, the value and prices thereof quoted in foreign currency shall be converted into the currency of the Philippines at the following rates of exchange plus additional financial charges, pursuant to Section 3 (b) of Revenue Regulations No. 11-84. Official Additional Exchange Rate Financial Charges Total Jan. - March, 1984 P14/$1 P6 P20.00 April - May, 1984 P14/$1 P5 P19.00 June, 1984 P18/$1 P4 P22.00 July - Sept., 1984 P18/$1 P3 P21.00 All internal revenue officers and others concerned are hereby enjoined to be guided accordingly and to give this Circular as wide a publicity as possible. cd (SGD.) RUBEN B. ANCHETA Acting Commissioner
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.