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April 24, 2007VAT RULING NO. 008-07Sec. 109, NIRC,as amendedIndustrial Galvanizers Corporation of the PhilippinesBarangay Conchu, Trece Martires CityCaviteAttention: Mr. Celso L. OlmosFinance ManagerGentlemen :This refers to your application for the issuance of tax credit certificate in relation to the output tax remitted on your sales to the Samar Electric Cooperative Inc. (SAMELCO II) pursuant to Section 103 of the Republic Act (RA) No. 8241, indorsed by Mr. Ernesto Hiansen, Executive Director, One Stop Shop Duty Drawback Center, Department of Finance to this Office on November 14, 2006. It is represented that Industrial Galvanizers Corporation of the Philippines (IGCP) is a pioneer and BOI-registered company located at Trece Martires City, Cavite; that ICGP produces galvanized steel poles and supplies these, through bids, to electric cooperatives duly registered with the Cooperative Development Authority or National Electrification Administration (NEA). It is further represented that SAMECO II enjoys VAT exemption on its sales relative to the generation and distribution of electricity as well as its importation of machineries and equipment, including spare parts, which are directly used in the...