Procedure to be Followed in the Preparation of TPAO's Covering Purchased of Cigarette Strip Stamps Under the new Rates of Specific Tax on Cigarettes Effective March 1, 1973 and Pursuant to Presidential Decrees Nos. 69 and 88

February 12, 1973 REVENUE MEMORANDUM ORDER NO. 07-73 SUBJECT : Procedure to be Followed in the Preparation of TPAO's Covering Purchased of Cigarette Strip Stamps Under the new Rates of Specific Tax on Cigarettes Effective March 1, 1973 and Pursuant to Presidential Dec ree s Nos. 69 and 8 8 TO : The Chiefs, Tobacco Tax Division and Accountable Forms Division, internal revenue officers and others concerned. To insure a smooth implementation of the amended provisions of the amended by Presidential Decrees Nos. 69 and 88, relating to the new rates of specific tax on cigarettes, the following procedure is hereby issued in connection with the preparation of TPAO's covering purchases of cigarette strip stamps starting on March 1, 1973: a) For every purchase of strip stamps affected by the new tax rates, two (2) TPAO's will be prepared by the Tobacco Tax Division in the following manner One TPAO will be prepared indicating quantity and value of strip stamps under the old rate of tax; the other TPAO will indicate the differential value between the new and old rates of tax. Both TPAO's will provide spaces for indicating the inclusive serial numbers of the strip stamps to be issued by the Accountable Forms Division. Each of the two (2) TPAO's will be cross-referenced with each other for identification and checking purposes. b) The taxpayer making the purchase will then present the two (2) TPAO's to the Accountable Forms Division where the inclusive serial numbers of the strip stamps being purchased will be indicated on both TPAO's. c) Thereafter, the taxpayer will proceed to the bank with the TPAO's and make the corresponding payment for the strip stamps being purchased. d) Finally, on the basis of the bank receipt and copies of the TPAO's, the Accountable Forms Division shall issue the correct quantity and denomination of strip stamps with the inclusive serial numbers indicated on the TPAO's. The Chief, Tobacco Tax Division, shall furnish the BIR Auditor a weekly report of the TPAO's prepared and issued to cigarette factories concerned. Strict compliance with the above procedure is being enjoined. MISAEL P. VERA Commissioner of Internal Revenue