VAT Ruling No. 096-89
VAT Ruling No. 096-89 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Apr 12, 1989
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April 12, 1989 VAT RULING NO. 096-89 102 (a) (2)-000-00-096-89 Mr. Arturo R. Dimaano Certified Public Accountant 2046 Anacleto Street Sta. Cruz, Manila S i r : This refers to your letter dated January 4, 1989 requesting for a formal opinion on whether or not the service income received by your client could zero rated. It is represented, that your client is a VAT registered domestic corporations engaged in registering and renewing patents and trademarks of a Japanese client with the Bureau of Patents, Trademarks and Technology Transfer; that its services are paid for in foreign currency remitted through a local bank; and that payment s received are then reported to the Central Bank. In reply, please be informed that pursuant to Sec. 102(a) of the Tax Code as amended by EO 273, your client's service income is automatically zero-rated because its services are paid for in acceptable foreign currency, inwardly remitted to the Philippines; and accounted for in accordance with the rules and regulations of the Central Bank. aisadc Very truly yours, EUFRACIO D. SANTOS Deputy Commissioner
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