Amendment to Revenue Regulations No. V-39 of the Department (now Ministry) of Finance

August 22, 1986 REVENUE REGULATIONS NO. 15-86 SUBJECT : Amendment to Revenue Regulations No. V-39 of the Department (now Ministry) of Finance TO : All Internal Revenue Officers and Others Concerned Pursuant to the provisions of Section 277 in relation to Section 126 of the National Internal Revenue Code, as amended, these regulations are hereby promulgated to amend Section 16 of Revenue Regulations No. V-39 of the Department (now Ministry) of Finance prescribing the quantity of cigars and cigarettes consumed on premises free of tax and shall read as follows: "Sec. 16. Cigars and cigarettes consumed on premises . Four cigars and ten cigarettes actually consumed by factory workers or employees on the premises of the manufacturer for every working day will not be considered subject to internal revenue tax; but a record shall be kept of the number of cigars and cigarettes consumed each day. If such cigars or cigarettes have been taken up in the Schedule A register book, as cigars or cigarettes manufactured, the manufacturer shall take credit for the same. This shall be done by means of a credit entry in red ink after the last entry at the end of the month in the Schedule A register book." These regulations shall take effect on September 1, 1986. (SGD.) JAIME V. ONGPIN Minister of Finance Recommending Approval: (SGD.) BIENVENIDO A. TAN, JR. Commissioner of Internal Revenue