VAT Ruling No. 027-90
VAT Ruling No. 027-90 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Feb 14, 1990
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February 14, 1990 VAT RULING NO. 027-90 100/102-000-00-027-90 Technomare Company, Inc. Ferry 3, San Jose Navotas, Metro Manila Attention: Mr . Manuel Joaquin President/Manager S i r s : This has reference to your letter dated August 1, 1989 seeking clarification if your business of repairing and constructing sea vessels, tugboats, yachts, tankers, LCT and other types of vessels for cargo passengers is exempt from VAT. In reply thereto, please be informed that the gross receipts that you receive from your business activities of constructing sea vessels and repairing ships is subject to 10% VAT pursuant to Sections 100 and 102 of the Tax Code as amended by E.O. 273. cdpr Very truly yours, JOSE U. ONG Commissioner of Internal Revenue
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