BIR Ruling

October 24, 1975 Philippine Packing Corporation Kayamanan "C" Village No. 2263 Pasong Tamo Extension Makati, Rizal Attention: Mr . S . B . Turingan Legal Department Gentlemen : This is with reference to your letter dated September 22, 1975 informing this Office that your Company had again recently declared a stock dividend; and that on one of the stock certificates, the documentary and science stamps to be affixed are worth over P100,000.00. You now request that, on account of the impracticability of affixing so many stamps on the stub of this particular certificate, you be allowed to comply with the requirements of the law and regulation on the matter, without necessarily having to affix the stamps, but by simply noting on the stub of the certificate the official receipt number to be issued by this Office covering payment of the aforesaid amount of documentary and science stamp taxes. acd In reply, I have the honor to inform you that in appearing that your request is meritorious, the same is hereby granted, subject to the condition that the official receipt to be issued by this Office covering payment of the aforesaid amount of documentary and science stamp taxes shall be attached to the stubs of the stock certificate on which the stamps in question were to have been affixed. This authority, however, does not apply automatically on similar cases. A written request for such authority should be filed with this Office in every case. Very truly yours, (SGD.) EFREN I. PLANA Acting Commissioner of Internal Revenue TAN-1456-040-3