VAT Ruling No. 025-92
VAT Ruling No. 025-92 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Mar 11, 1992
Full text
March 11, 1992 VAT RULING NO. 025-92 NIRC Sec. 100 (a) 102 (a) Precedent Ruling 051-91 Cesar B. Rivera Certified Public Accountant 130A Mabini St., Mandaluyong, Manila S i r : This refers to your letter dated December 3, 1990 requesting information as to the applicability of VAT on the following transactions of your client, a VAT registered single proprietor engaged in the construction business: 1. Sale of fully depreciated construction equipments; and 2. Lease of construction equipments to other persons or entities. In reply, please be informed that the foregoing transactions, being inherently related to your client's construction business, are subject to VAT pursuant to Sections 100(a) and 102(a) of the Tax Code, as amended, respectively. Very truly yours, (SGD.) JOSE U. ONG Commissioner of Internal Revenue
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