VAT Ruling No. 063-88
VAT Ruling No. 063-88 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Mar 28, 1988
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March 28, 1988 VAT RULING NO. 063-88 105-000-00-063-88 Woodchips International, Inc. Suite 224, EBC II Bldg. Ortigas Avenue, Greenhills Metro Manila Attention: Mr . Robert Tiu S i r s : This refers to your request dated March 14, 1988 for a tax credit certificate for "input tax on your 1987 ending inventory equivalent to P3,924,150.00 on raw materials and P5,886,544.73 on finished goods." In reply, please be informed that the transitional input tax available to manufacturers, producers and importers is the amount of unused deferred sales tax credit as of December 31, 1987 which shall be initially accepted as input tax credit against your value-added tax (output tax) payable in 1988 (Section 26-b of Revenue Regulation No. 5-87). aisadc Very truly yours, EUFRACIO D. SANTOS Deputy Commissioner
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