VAT Ruling No. 089-89
VAT Ruling No. 089-89 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Apr 6, 1989
Full text
April 6, 1989 VAT RULING NO. 089-89 Atty. Artemio L. Cardino A.M. Sison Jr. & Associates 14th Floor, Pacific Bank Bldg. 6776 Ayala Ave., Makati Metro Manila S i r : This refers to your letter dated March 2, 1989 requesting a ruling on the basis of the computation of the value-added tax that your client, JOHNSON & JOHNSON (Philippines), will be charge on its sale of used cars to its employees. In reply, please be informed that pursuant to Section 3 of Revenue Regulations 5-87, the sale of used cars is considered a sale of capital goods and is subject to VAT based on the actual selling price or fair market value whichever is higher. LLpr Very truly yours, EUFRACIO D. SANTOS Deputy Commissioner
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