VAT Ruling No. 104-89
VAT Ruling No. 104-89 • Bureau of Internal Revenue (BIR) Issuances • VAT Rulings • Apr 21, 1989
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April 21, 1989 VAT RULING NO. 104-89 Ms. Evangeline E. Gammuac Suite 203 San Lorenzo Arcade 924 Pasay Road, Makati Metro Manila M a d a m : This refers to your letter dated November 14, 1988 inquiring whether or not an insurance agency is subject to the value-added tax (VAT) or to the percentage tax. In reply, please be informed that an insurance agency is subject to the VAT under Sec. 102 of the Tax Code, as amended by Executive Order No. 273 if the agency is a juridical entity, i.e. , a corporation or a partnership. However, if it operates as a sole proprietorship and the owner thereof is subject to the occupation tax under the Local Tax Code, it is exempt from the value-added tax pursuant to Sec. 103 (r) of the same Code. Please be guided accordingly. HcTEaA Very truly yours, (SGD.) JOSE U. ONG Commissioner of Internal Revenue
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