VAT Ruling No. 034-89
VAT Ruling No. 034-89 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Feb 10, 1989
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February 10, 1989 VAT RULING NO. 034-89 Philips Electrical Lamps Inc. 2246 Pasong Tamo, Makati Metro Manila Attention: Mr . Tomas T . Carrasco, Jr . Manager Financial Services & Systems S i r s : This refers to your letter dated January 17, 1989 stating that you applied for a tax credit certificate in the amount of P1,149,069.00 representing advance sales taxes paid on your importation of raw materials in January, 1988 and that such amount is in excess of the 10% value added tax. Based on the foregoing, you request that instead of a tax credit certificate, the amount be allowed to be credited against your output taxes for the first quarter of 1988. In reply, please be informed that the request is granted provided the VAT returns filed for the period shall be amended and re-filed accordingly. cdti Very truly yours, EUFRACIO D. SANTOS Deputy Commissioner
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