VAT Ruling No. 039-88
VAT Ruling No. 039-88 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Mar 1, 1988
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March 1, 1988 VAT RULING NO. 039-88 103 (m)-000-00-039-88 St. Stephen's High School 1267 G. Magsaysay Street Manila Attention: Miss Nancy Y . Ching Chief Accountant S i r s : In reply to your query dated February 5, 1988, please be informed that your exemption privilege from the payment of the value-added tax under Sec. 103 (m) of the Tax Code, as amended by E.O. No. 273 is limited only to the taxes to which you are directly liable. Thus, any 10% VAT charged by your suppliers cannot be used as a tax credit. Educational institutions are not among those exempt entities that have the option to register for VAT purposes pursuant to Sec. 107 (d) of the Tax Code as amended by E.O. No. 273. cdtech Very truly yours, BIENVENIDO A. TAN, JR. Commissioner of Internal Revenue
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