VAT Ruling No. 075-89
VAT Ruling No. 075-89 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Mar 29, 1989
Full text
March 29, 1989 VAT RULING NO. 075-89 Farm Systems Development Corporation Department of Agriculture Building Elliptical Road, Diliman Quezon City Attention: Christina L . Jacinto OIC, FSDC Finance S i r s : This has reference to your letter dated October 12, 1988 requesting clarification on the applicability of VAT on the construction projects which have been started prior to the abolition of Farm Systems Development Corporation (FSDC) under Executive Order No. 116. In reply, please be informed that the construction projects signed and approved by your office 1987; consummated in 1988; and paid for in 1988 are subject to 10% VAT pursuant to Section 102(a) of the Tax Code, as amended by E.O. No. 273. Further, the 10% VAT will not be withheld by your office (FSDC) but will form part of your payment to the contractors who shall be responsible for the payment thereof. Please be guided accordingly. Very truly yours, EUFRACIO D. SANTOS Deputy Commissioner
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.