Publishing Revenue Regulations No. 4-79 dated May 18, 1979, The Subject Matter of Which is "Amendment to Revenue Regulations No. 17-78 which amended Section 19 of Revenue Regulations V-1 as amended by Revenue Regulations No. 2-78"

May 22, 1979 REVENUE MEMORANDUM CIRCULAR NO. 27-79 SUBJECT : Publishing Revenue Regulations No. 4-79 dated May 18, 1979, The Subject Matter of Which is "Amendment to Revenue Regulations No. 17-78 which amended Section 19 of Revenue Regulations V-1 as amended by Revenue Regulations No. 2-78" TO : All Internal Revenue Officers and others concerned For the information and guidance of all concerned, there is published hereunder the full text of Revenue Regulations No. 4-79, dated May 18, 1979: "SUBJECT : Amendment to Revenue Regulations No. 17-78 which amended Section 19 of Revenue Regulations V-1 as amended by Revenue Regulations No. 2-78 "TO : All Internal Revenue Officers and others concerned "Section 1. Scope . Pursuant to Section 326 in relation to Section 4 both of the National Internal Revenue Code of 1977, as amended, the following regulations amending certain provisions of Section 19 of Revenue Regulations V-1, otherwise known as the Bookkeeping Regulations, as amended by Revenue Regulations No. 2-78 and further amended by Revenue Regulations No. 17-78, are hereby promulgated. "Section 2. Amendment . Sub-paragraph 2 of Paragraph 3 of Section 19(c) of Revenue Regulations V-1, as amended by Revenue Regulations No. 2-78 and by Revenue Regulations No. 17-78, is further amended to read as follows: '3. Other Requirements xxx xxx xxx '2. In the case of receipts or invoices printed and registered prior to the effectivity of these regulations, the same may still be used provided the taxpayer submits to the Revenue District Officer where his principal place of business is located, an inventory of unused receipts or invoices together with a copy of the previously approved permit for registration of said receipts or invoices not later than November 30, 1978. 'Failure of the taxpayer to comply with this requirement shall render the unused receipts or invoices invalid and the possession or use thereof after November 30, 1978, shall be punishable under the provisions of Presidential Decree No. 1254: Provided, however, That with respect to receipts or invoices printed and registered prior to the effectivity of these regulations which do not bear on the original and every copy thereof on the lower left hand corner the name, business address and authority number of the printer but which conform with the requirements of pertinent provisions of the Bookkeeping Regulations prior to its amendment, the same may still be used until December 31, 1979. After this date, such receipts or invoices shall be considered invalid and the possession or use thereof shall likewise be punishable under the provisions of Presidential Decree No. 1254.' "Section 3. Repealing Clause . All regulations, circulars, rules, or orders or portions thereof contrary to or inconsistent with the provisions of these regulations are hereby modified and/or repealed accordingly. "Section 4. Effectivity . These regulations shall take effect upon approval. (SGD.) CESAR VIRATA Minister of Finance Recommended by: (SGD.) EFREN I. PLANA Acting Commissioner" Enforcement and Publicity All internal revenue officers and others charged with the enforcement of internal revenue laws are hereby enjoined to enforce the provisions of this Revenue Regulations accordingly and to give it as wide a publicity as possible. aisa dc EFREN I. PLANA Acting Commissioner