Amendment to Section 9 of Revenue Regulations No. V-7

January 24, 1952 REVENUE REGULATIONS NO. V-22 SUBJECT : Amendment to Section 9 of Revenue Regulations No. V-7 TO : All Internal-Revenue Officers and Others Concerned Pursuant to the provisions of Section 338, in relation to Section 4 of Commonwealth Act No. 466, otherwise known as the National Internal Revenue Code, the following regulations amending Section 9 of Revenue Regulations No. V-7 are hereby promulgated and shall be known as Revenue Regulations No. V-22. SECTION 1. Paragraphs two and three of Section 9 of Revenue Regulations No. V-7 of the Department of Finance are hereby amended so as to read as follows: Sec. 9. Stock-taking and allowance for waste of cigarette paper . . . . . Registered manufacturers of cigarettes may be credited with allowance for wastage of cigarette paper destroyed in the process of manufacture or cigarettes not to exceed eight percent (8%) of the cigarette paper used in such manufacture. Any waste of cigarette paper in excess of eight percent shall be presumed to have been used in the manufacture of cigarettes and the specific tax due on the cigarettes that may have been manufactured from such waste shall be assessed and collected in accordance with law. All waste cigarette paper should be preserved, and before the same is destroyed, the manufacturer of cigarettes shall make proper application therefor with the Supervisor of Tobacco Factories or the Provincial Revenue Agent, as the case may be, who shall authorize and witness such destruction. A certificate of destruction in triplicate shall be signed by the manufacturer and the internal revenue officer who witnessed the destruction. The credit for allowance shall only be entered in the register book after the accomplishment of the certificate of destruction, a copy of which shall constitute the supporting paper for such entry. It shall be the duty of the permittee or user to keep his stock of cigarette paper in his factory, warehouse, or place of business in an enclosure, room, or closet under special lock subject to inspection at all times by internal revenue officers. The cigarette paper shall be arranged separately and marked or tagged in accordance with their classification as to brand, color and length in such manner as to facilitate an accurate physical inventory thereof by internal revenue officers. SECTION 2. Date of Effectivity . These regulations shall take effect on February 1, 1952. (SGD.) AURELIO MONTINOLA Secretary of Finance Recommended by: (SGD.) S. DAVID Collector of Internal Revenue