VAT Ruling No. 056-97
VAT Ruling No. 056-97 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Sep 18, 1997
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September 18, 1997 VAT RULING NO. 056-97 R.A. 8241-000-00-056-97 A-Z Sales and Distribution Corporation A-Z Building, No. 723 Sgt. Bumatay St. Plainview, Mandaluyong City Attention: Mr . Fidel V . Yuboco President Gentlemen : This refers to your letter dated July 17, 1997 requesting for exemption from the value-added tax imposed on your importation of the newsweekly magazine, ASIAWEEK. It is represented that your company, A-Z Sales and Distribution Corporation, is an importer of the newsweekly magazine ASIAWEEK; that Asiaweek appears at regular intervals, i.e., weekly, and at fixed prices for subscription and sale; and that said magazine is not devoted principally to the publication of paid advertisements. In reply, please be informed that your request is hereby granted. Section 103(y) of R.A. 8241, amending R.A. No. 7716, otherwise known as the Expanded Value-Added Tax, specifically exempts the importation of magazine which appears at regular intervals with fixed prices for subscription and sale and which is not devoted principally to the publication of paid advertisements. Very truly yours, SIXTO S. ESQUIVIAS IV OIC, Asst. Commissioner Legal Service
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