VAT Ruling No. 041-97
VAT Ruling No. 041-97 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • May 14, 1997
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May 14, 1997 VAT RULING NO. 041-97 Sec. 103 (c)-000-041-97 Erlinda G. Lim Regwill Industries, Inc. 14-B Robbinsdale Bldg. Araneta Ave., Quezon City Attention: Erlinda G . Lim President & General Manager M a d a m : This refers to your letter dated March 12, 1997 requesting for a clarification as to whether or not the importation of asphalt cement used to produce oxidized asphalt and asphalt emulsions is subject to value-added tax (VAT). prcd In reply, please be informed that Section 103 (c) of the Tax Code as amended by Republic Act No. 8241 effective January 1, 1997, provides: "SEC. 103. Exempt Transactions . the following shall be exempt from the value-added tax: xxx xxx xxx (c) Sale or importation of coal and natural gas, in whatever form or state, and petroleum products (except lubricating oil and grease, wax and petrolatum) subject to the excise tax imposed under Title VI ;" (emphasis supplied) Since asphalts are subject to excise tax in accordance with Section 145 (11) under Title VI of the Tax Code, the importation of asphalt cement is exempt from the 10% value added tax. cdpr Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue
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