Amending Paragraph 2, Features of the Amendment, of Revenue Memorandum Circular No. 4-65

October 15, 1965 REVENUE MEMORANDUM CIRCULAR NO. 34-65 SUBJECT : Amending Paragraph 2, Features of the Amendment, of Revenue Memorandum Circular No. 4-65 TO : All Internal Revenue Officers and Others Concerned SECTION 1. Paragraph 2, "Features of the Amendment", of Revenue Memorandum Circular No. 4-65 is hereby amended to read as follows: "2. Rates of tax prescribed by Section 185-B (a) When the finished articles enumerated therein are imported 30%; (b) When the finished articles are "locally manufactured articles" as defined herein 7%; (c) Parts and accessories imported by domestic manufacturers for use in their manufacture of articles defined herein as "locally manufactured articles 7%; (d) Parts and accessories imported for resale in their original state or imported by domestic manufacturers who are not producers of "locally manufactured articles" as defined herein 30%; (e) Parts and accessories locally manufactured 7%; (f) Parts and accessories required by law to be of local manufacture to qualify the products as "locally manufactured articles", if locally manufactured 7%; (g) Parts and accessories required by law to be of local manufacture to qualify the products as "locally manufactured articles", if imported 30%. Enforcement All concerned are enjoined to be guided accordingly. aisadc (SGD.) MISAEL P. VERA Acting Commissioner of Internal Revenue APPROVED: (SGD.) RUFINO HECHANOVA Secretary of Finance