VAT Ruling No. 058-88
VAT Ruling No. 058-88 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Mar 8, 1988
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March 8, 1988 VAT RULING NO. 058-88 102 (a)-000-00-058-88 Mr. Manuel A. Sandoval VP-Luzon Philippine Shipbuilders and Repairers Association Room 6, Army & Navy Club Roxas Boulevard, Ermita, Manila S i r : This refers to your letter dated February 18, 1988 inquiring whether shipbuilders and shiprepairers are exempted from the value-added tax in view of the Percentage Tax exemption under Presidential Decree No. 666. In reply thereto, please be informed that by virtue of Executive Order No. 93 all the tax and duty exemption privileges were withdrawn. Consequently, FIRB Res. No. 14-87 restored, subject to certain conditions, the tax and duty exemption on qualified importations of machinery, equipment and materials for shipbuilding, shiprepair and/or alteration, as well as replacement and spare parts for the repair and overhaul of vessels of Frabelle Shipyard Corporation. However, there was no proviso for a restoration of the tax and duty exemption privileges of shipbuilding and shiprepairers firms registered with MARINA under P.D. No. 666. Thus, shipbuilders and shiprepairers are now subject to the value-added tax. Please be guided accordingly. Very truly yours, BIENVENIDO A. TAN, JR. Commissioner of Internal Revenue
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