VAT Ruling No. 057-97
VAT Ruling No. 057-97 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Sep 18, 1997
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September 18, 1997 VAT RULING NO. 057-97 Sec. 103 (y)-056-97-057-97 Time-Life International (Phils.), Inc. 4/F Yupangco Building 339 Sen. Gil J. Puyat Avenue, Makati City Attention: Ms . Lourdes S . Navarro Business Manager' Gentlemen : This refers to your letter dated July 17, 1997 requesting for a ruling as to whether the importation of newsweekly magazine like, Asiaweek, is exempt from value-added tax. It appears that your company is an importer of Asiaweek magazine which appears at weekly interval and carry a fixed rate for subscription and newsstand sales; and that it is not devoted principally to the publication of paid advertisements. In reply, please be informed that the sale, importation, printing or publication of books and any newspaper, magazine, review or bulletin which appears at regular intervals with fixed prices for subscription and sale and which is not devoted principally to the publication of paid advertisements are exempt from value-added tax pursuant to Section 103(y) of the Tax code, as amended by Republic Act No. 8241 and as implemented by Revenue Regulations No. 6-97. LLjur Very truly yours, SIXTO S. ESQUIVIAS IV OIC, Asst. Commissioner Legal Service
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