Amending General Circular No. 337 dated May 24, 1961

December 21, 1967 REVENUE MEMORANDUM CIRCULAR NO. 01-68 SUBJECT : Amending General Circular No. 337 dated May 24, 1961 TO : All Internal Revenue Officers and Others concerned 1. For the information and guidance of all concerned, there is quoted hereunder the dispositive portion of the letter dated October 3, 1967 of the Assistant Executive Secretary to the Secretary of National Defense which in effect gives the order of priority in the disposition of smuggled and/or illegally cut logs that are confiscated or seized. cdta "1. The Armed Forces of the Philippines (AFP) will be given one month after notification of confiscation within which to take over the logs for schoolhouse construction. In the event the AFP cannot utilized the logs for the aforementioned purpose, the Custody and Disposal Administration (CADA or the AFP, shall take over or dispose of the logs in the following priority: (a) Turn over the logs to the local government that needs them; (b) Sell them at public auction if and when, after one month the AFP finds itself unable to use the logs. Very truly yours, By authority of the President: (SGD.) JOSE J. LEIDO JR. Assistant Executive Secretary" 2. All internal revenue officers charged with the enforcement of internal revenue laws are hereby enjoined to be guided accordingly and to give this amendatory circular as wide a publicity as possible. cdti Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue APPROVED: (SGD.) EDUARDO Z. ROMUALDEZ Secretary of Finance