VAT Ruling No. 066-89
VAT Ruling No. 066-89 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Mar 17, 1989
Full text
March 17, 1989 VAT RULING NO. 066-89 Sicangco, Pamintuan & Co. Certified Public Accountants Rm. 202 A V. Madrigal Bldg. Ayala Ave.,Makati Metro Manila Attention: Mr . Alberto T . Dimatulac Manager Gentlemen : This refers to your letter dated March 13, 1989 requesting confirmation of your opinion that the balance or unapplied input tax as of December 31, 1988 and for the subsequent year-end calendar period can be carried over to the next succeeding quarter in 1989 and subsequent quarter immediately following a calendar year period respectively. In reply, please be informed that we hereby confirm your above opinion pursuant to Section 104(b) of the Tax Code, as amended by Executive Order No. 273, reading "(b) Excess output or input tax. If at the end of any taxable quarter the output tax exceeds the input tax, the excess shall be paid by the VAT-registered person. If the input tax exceeds the output tax, the excess shall be carried over to the succeeding quarter or quarters ...." LLjur Very truly yours, VICTOR A. DEOFERIO, JR. Deputy Commissioner
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