VAT Ruling No. 071-88
VAT Ruling No. 071-88 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Mar 28, 1988
Full text
March 28, 1988 VAT RULING NO. 071-88 104-000-00-071-88 Arjecie Conglomerate, Inc. Suite 224 EBC II Bldg. Ortigas Avenue, Greenhills Metro Manila Attention: Miss Luisa P . Chua Asst . General Manager 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 P1,182,788.18 or 8% of P14,784,852.22. 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 (Sec. 26 b of RR 5-87). Very truly yours, EUFRACIO D. SANTOS Deputy Commissioner
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