VAT Ruling No. 047-97
VAT Ruling No. 047-97 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Jul 11, 1997
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July 11, 1997 VAT RULING NO. 047-97 Sec. 103 (c)-000-047-97 PNOC Coal Corporation PNPC Complex, Meritt Road Fort Bonifacio, Metro Manila Attention: Michael T . Morales Marketing & Logistics Manager Gentlemen : This refers to your letter dated March 10, 1997 relative to your request for confirmation of your opinion that the importation of coal is exempt from the payment of the 10% value added tax pursuant to the amendatory provisions of Republic Act No. 8241. cdta In reply, please be informed that in accordance with Section 103 (c) of the Tax Code as amended by Republic Act No. 8241 effective January 1, 1997, pertinent portions of which provide: "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) the importation of coal is exempt from the payment of the 10% value added tax. aisadc Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue
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