May 7, 2010
BIR RULING [DA-(VAT-011) 062-10]
Sec. 108 (B) (2);VAT Ruling No. 021-88; BIR Ruling No. DA(VAT-020)341-08
El Greco Ship Manning & Management Corporation
70 Sgt. E.A. Esguerra Avenue
Quezon City
Attention: Mr. Peter N. Toundjis II
President
Gentlemen :
This refers to your letter dated January 21, 2005 stating that El Greco Ship Manning & Management Corporation is a corporation organized and existing under the laws of the Philippines; that it is duly registered with the Securities and Exchange Commission (SEC) under SEC Registration No. 170028 dated October 27, 1989; that it is likewise registered with the BIR as a Value-added Tax (VAT) taxpayer with Taxpayer Identification No. 000-402-284-000; that it is organized to engage in the crewing and/or manning of ocean going vessels of any registry; that as such, it is a service exporter which earns foreign exchange currency or dollars for services rendered to its foreign principals (shipowners) and from chartering its vessels.
Based on the foregoing representations, you now request that services rendered to foreign shipowners and paid for in foreign currency are subject to VAT at zero...
