VAT Ruling No. 034-90

February 14, 1990 VAT RULING NO. 034-90 103 (w)/107 (d)-000-00-034-90 Insurall, Inc. Mezz. 14, EPA Building 239 Juan Luna St. Binondo, Manila Attention: Mr . Rafael Uyguangco Vice-President for Operation S i r s : This refers to your letter dated May 5, 1989, August 10, 1989 and August 23, 1989 wherein you represented that your income as an insurance agency engaged in the solicitation of insurance for insurance companies is in the form of commission; and that on July 1, 1989, you optionally registered under the VAT even if your expected annual gross receipts do not exceed P200,000.00. Based on the foregoing, you now request for the cancellation of your VAT registration and the replacement of your VAT Registration Certificate by a non-VAT Registration Certificate. In reply, please be informed that since you are a VAT-exempt person under Section 103(w) of the Tax Code, as amended, but optionally applied for VAT registration pursuant to Section 107(d) of the same Code, the cancellation of your VAT registration can only be affected after the lapse of two consecutive years from the date of registration. This finds support in Section 19(i) of Revenue Regulations No. 5-87. casia Very truly yours, JOSE U. ONG Commissioner of Internal Revenue