VAT Ruling No. 058-92

May 5, 1992 VAT RULING NO. 058-92 NIRC Sec. 103 (j), 115 Precedent Ruling 033-92 O.T. Oliveros Offshore Industries, Inc. 1204 M. Naval St., Navotas, Metro Manila S i r s : This has reference to your letter dated October 8, 1991 inquiring whether your business, which as represented is classified as a common carrier, is subject to the 10% value added tax or to the 3% percentage tax. In reply, please be informed that as a common carrier, you are exempt from the 10% VAT pursuant to Sec. 103(j) of the Tax Code, as amended, but you are subject to the 3% common carrier's tax under Sec. 115 of the same Code ( BIR Ruling No. 008-92 ). This ruling is issued on the basis of the foregoing facts as represented. However, if upon investigation, it will be disclosed that the facts are different, then this ruling shall be considered without force and effect. AaIDCS Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner Officer-in-Charge