Regulations Implementing Presidential Decree No. 1045

November 25, 1976 REVENUE REGULATIONS NO. 09-76 SUBJECT : Regulations Implementing Presidential Decree No. 1045 Declaring Without Value Certain Denominations of Documentary and Science Stamps TO : All Internal Revenue Officers and others concerned Pursuant to Presidential Decree No. 1045, which declares without value certain denominations of documentary and science stamps, the following regulations implementing said decree are hereby promulgated and shall be known as Revenue Regulations No. 9-76. cd SECTION 1. Scope . These regulations shall govern the surrender of documentary and science stamps with denominations of P10.00 or above which have been declared without value and withdrawn from circulation, the refund of the face value thereof, as well as the disposition of the said stamps. Denominations of documentary and science stamps of less than P10.00 shall continue to be in circulation and used in payment of documentary and science stamp taxes in accordance with the existing laws and regulations. SECTION 2. Surrender of the stamps . Documentary and science stamps with denominations of P10.00 or above must be surrendered to the Commissioner of Internal Revenue not later than February 5, 1977. Persons whose residence or place of business are within the Metro Manila Area shall surrender the said stamps to the Chief, Accountable Forms Division, Central Office, Bureau of Internal Revenue, while those whose residence or place of business are outside the Metro Manila Area shall surrender the stamps to the Revenue District Officer of the district where his place of business or residence is located. SECTION 3. Requirements in surrendering the stamps . The stamps required to be surrendered under these regulations shall be accompanied by a statement containing the following information: a. Name and address of the purchaser of stamps; b. Revenue Office where the stamps were purchased as well as the date of purchase; c. Quantity and face value of the surrendered stamps classified by denominations; and d. Any evidence of purchase issued by the Revenue Office selling the stamps. SECTION 4. Conditions precedent in refunding the face value of the surrendered stamps . a. No refund of the face value of the stamps shall be made unless the stamps are returned in good condition, analyzed and determined by the Laboratory Center of the Bureau of Internal Revenue to be genuine. b. The refund shall be made only to the purchaser or his duly authorized representative. c. The stamps are surrendered on or before February 5, 1977. SECTION 5. Disposition of Surrendered Stamps . The stamps surrendered as required by these Regulation including those stamps in the possession of the personnel of the Bureau of Internal Revenue shall be destroyed by burning or recycling under the supervision of a BIR Committee and in the presence of the representative of the Commission on Audit. The BIR Committee shall be composed of the Revenue Service Chief (Inspection) as Chairman; the Chief, Accountable Forms Division, member; and a representative of the Commissioner of Internal Revenue as the other member. The destruction of the stamps surrendered by personnel in the Bureau of Internal Revenue shall be effected immediately by the Committee. With respect to those stamps surrendered by taxpayers for purposes of refund, destruction shall be effected after the refund of the face value thereof has been made and a certificate of destruction shall be attached to the records of the case. SECTION 6. Payment of documentary or science stamp taxes with denomination of P10 . 00 or above . Payment of documentary or science stamp taxes with denomination of P10.00 or more shall be effected as in the case of other internal revenue taxes by the issuance of the corresponding official receipt by authorized BIR personnel or the issuance of Bank Official Receipt by Authorized Banks. Upon payment of the required documentary and science stamp taxes due on the taxable document or instrument subject to tax, such document or instrument must bear the following notation on the original and every duplicate copy thereof, if there is any. Amount of documentary stamp tax paid P___________ Amount of science stamp tax paid ___________ Under O.R. or C.B. Official Receipt No. __________ dated ___________ ___________________ Payor If the taxable instrument does not bear the foregoing notation, it shall be presumed that no documentary or science stamp taxes have been paid. The splitting of the total amount of stamps due through the purchase or affixture of several pieces of stamps lower than the denominations of P10.00 of either science and documentary stamps even if the sum total of the several pieces of stamps will reflect correctly the value of the tax on the document is hereby prohibited. SECTION 7. Effectivity . These regulations shall take effect immediately. CESAR VIRATA Secretary of Finance Recommending Approval: EFREN I. PLANA Acting Commissioner of Internal Revenue TAN-1456-040-3