VAT Ruling No. 032-88
VAT Ruling No. 032-88 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Feb 23, 1988
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February 23, 1988 VAT RULING NO. 032-88 103 (q)-000-00-032-88 Mr. L.Y. Wee Equatorial Realty Development, Inc. BPI Condominium Bldg., Plaza Cervantes Manila S i r : In reply to your letter dated February 8, 1988, please be informed that, as an exempt entity by virtue of Sec. 103 (q) of the Tax Code as amended by E.O. 273, you need not register for VAT purposes. For this, you are not entitled to tax credit or refund for the value-added taxes paid on the products purchased in connection with your leasing business. cdta Very truly yours, BIENVENIDO A. TAN, JR. Commissioner of Internal Revenue
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