Amendment to Section 203 of Regulations No. 26, as amended

May 27, 1975 REVENUE REGULATIONS NO. 03-75 SUBJECT : Amendment to Section 203 of Regulations No. 2 6, as amended, otherwise known as the "Documentary Sta mp Tax Regulations" TO : All Internal Revenue Officers and Others Concerned SECTION 1. Section 203 of Regulations No. 26, as amended by Regulations No. 77, is hereby further amended to read as follows: "Sec. 203. Manner of payment of documentary stamp tax . The payment of the documentary stamp tax imposed in [Section 1449 of the Administrative Code, as amended by Acts Nos. 3047 and 3707] TITLE VI OF COMMONWEALTH ACT NO. 466, AS AMENDED, shall be made by the purchase and affixture of documentary stamps of the proper value to the document or instrument sought to be taxed or to any other paper which the law indicates as the proper recipient of the stamp: Provided , That in cases of warehouse receipts, certificates of stocks, passage tickets, and other documents having stubs or duplicates kept by the persons issuing them, the documentary stamps shall be adhered to the stubs or to the duplicates thereof; PROVIDED, FURTHER , THAT IN MERITORIOUS CASES INVOLVING ISSUANCE OF NUMEROUS CERTIFICATES OF STOCK AT ONE TIME, THE COMMISSIONER OF INTERNAL REVENUE MAY, IN HIS DISCRETION, AUTHORIZE ADHERENCE OF STAMPS TO THE STOCK CERTIFICATE REGISTER; THAT WITH RESPECT TO CHECKS DRAWN AGAINST CURRENT ACCOUNT, MANAGER'S/ CASHIER'S/TREASURER'S CHECKS OR INSURANCE POLICIES, THE DOCUMENTARY STAMPS SHALL BE ADHERED TO THE REQUISITION/PURCHASE SLIP, REGISTER COPY OR PREMIUM REGISTER; and that a note properly initialed by a responsible person on the face of such documents shall be made as follows: "Documentary stamps to the value of P ____________ have been affixed to the stub, [or to] the duplicate, THE REQUISITION/PURCHASE SLIP, THE REGISTER COPY, STOCK CERTIFICATE REGISTER, OR PREMIUM REGISTER, as the case may be; " Provided , further , That where the use of the Pitney-Bowes Postage Meter and Machine, or the like for the manufacture and printing of documentary stamps on documents or instruments subject to tax is permitted by the [Collector] COMMISSIONER of Internal Revenue, the payment of the tax due shall be accomplished by the filing of proper requisition for stamps intended to be manufactured and printed with the [Collector] COMMISSIONER of Internal Revenue and by the payment of the value of the stamps so requisitioned." aisa dc SECTION 2. These Regulations shall take effect immediately. CESAR VIRATA Secretary of Finance Recommended by: MISAEL P. VERA Commissioner of internal Revenue TAN-1601-593-5