Issuance of Cigarette Strip Stamps under the P52.80 per M class (20's), denomination — P1.056 each, for Affixture to Cigarettes under the P25.00 per M class (20's)

July 9, 1973 REVENUE MEMORANDUM ORDER NO. 24-73 SUBJECT : Issuance of Cigarette Strip Stamps under the P52.80 per M class (20's), denomination P1.056 each, for Affixture to Cigarettes under the P25.00 per M class (20's). TO : The Chiefs, Tobacco Tax Division and Accountable Forms Division, all internal revenue officers and others concerned. To supplement the procedures prescribed under Revenue Memorandum Orders Nos. 7-73 and 22-73, concerning the purchase, issuance and affixture of strip stamps under the new tax rates under Section 137(b), as amended by Presidential Decrees Nos. 69, 88 and 149, effective July 1, 1973, the issuance of strip stamps under the P52.80 per M class (20's), denomination P1.056 each, is hereby authorized for affixture to cigarettes under the P25.00 per M class (20's) with a retail price exceeding P1.60 per pack. Effective immediately, the Tobacco Tax Division shall prepare and issue TPAO's corresponding to purchases of strip stamps under the P25.00 per M class (20's), denomination P0.50 each, duly covered by approved stamp requisitions. Pending arrival of foreign-printed strip stamps and until further orders, the Accountable Forms Division shall, in turn, issue 4,000,000 pieces from its present stock of 5,000,000 strip stamps under the old tax class and denomination of P52.80 per M (20's) at P1.056 each for purchases of strip stamps under the new tax class and denomination of P25.00 per M (20's) at P0.50 each. The remaining 1,000,000 strip stamps under the said old tax class and denomination shall be issued for affixture to cigarettes under the P55.00 per M class (20's) sold at public auction by the Bureau of Customs. This authority to issue strip stamps under the P52.80 per M class (20's), denomination P1.056 each, for affixture to cigarettes under the P25.00 per M class (20's) covers only the 4,000,000 pieces thereof, until they are exhausted. The supplementary procedure herein prescribed should be complied with immediately. MISAEL P. VERA Commissioner of Internal Revenue TAN -1601-593-5