VAT Ruling No. 103-89

April 19, 1989 VAT RULING NO. 103-89 Armco Marsteel Alloy Corp. 2nd Floor, ACPAP I BLDG. 140 Alfaro Street, Salcedo Village Makati, Metro Manila S i r s : This refers to your shipment of 10 pieces of "Copper Mould Tubes" which were imported on a no-dollar basis and previously sent to Concast Standard AG, Switzerland for repair per Export Declaration No. 880674 dated September 23, 1988 and now being returned after completion of said repair (as certified by the Central Bank in its letter, CICCO Ref. No. 89-0314037, to the Bank of Philippine Islands dated March 14, 1989). On the basis of the foregoing facts, you request that the said importation be exempt from the value-added tax. In reply, please be informed that your request is hereby granted inasmuch as the said transaction does not involve actual importation of goods and that no outward remittance of foreign exchange is involved. This will serve as the basis for the release of the goods shipped on "Professor Toustykh" and B/L No. 5008 without payment of the VAT. EHSTDA Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner