Further Amendment of Section 6 of Revenue Regulations 7-76, as amended by Revenue Regulations 2-80, Governing the Purchase and Sales of Tax Free Articles by the Armed Forces of the Philippines Commissary and Exchange Service (AFPCES)

June 10, 1980 REVENUE REGULATIONS NO. 05-80 SUBJECT : Further Amendment of Section 6 of Revenue Regulations 7-76, as Amended by Revenue Regulations 2-80, Governing the Purchase and Sales of Tax Free Articles by the Armed Forces of the Philippines Commissary and Exchange Service (AFPCES) TO : All Internal Revenue Officers and Others Concerned Pursuant to Section 326 in relation to Section 4 of the National Internal Revenue Code of 1977, as amended, the following amendment to Revenue Regulations 7-76, as amended by Revenue Regulations 2-80, is hereby promulgated and shall be known as Revenue Regulation No. 5-80. acd SECTION 1 . Section 6 of Revenue Regulations No. 7-76, as amended by Revenue Regulations No. 2-80 is hereby further amended to read as follows: "Sec. 6. In filing his quarterly percentage tax return the manufacturer or producer selling articles or commodities to AFPCES shall exclude from his total gross sales subject to tax the sales made to AFPCES during the quarter. The tax free sales to AFPCES shall, however, be indicated in the return by means of a footnote, or an attachment stating the amount of sales and the percentage, specific or mining taxes paid on the raw materials, parts accessories or other articles forming part of the finished product sold. Any percentage, specific or mining tax paid on domestically manufactured or imported raw materials, parts, accessories or other articles forming part of the finished product sold to AFPCES may be claimed as a tax credit by the manufacturer or producer in accordance with Revenue Regulations 8-78." SECTION 2 . This regulation shall take effect immediately. casia CESAR VIRATA Minister of Finance Recommending Approval: RUBEN B. ANCHETA Acting Commissioner