Amendment to Section 10 of Revenue Regulations No. V-21

April 1, 1952 REVENUE REGULATIONS NO. V-25 SUBJECT : Amendment to Section 10 of Revenue Regulations No. V-21 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 10 of Revenue Regulations No. V-21, are hereby promulgated and shall be known as Revenue Regulations No. V-25. SECTION 1. Section 10 of Revenue Regulations No. V-21 of the Department of Finance is hereby amended to read as follows: Section 10. Report of stock of imported distilled spirits and/or wines not bearing corresponding internal revenue labels . Importers, wholesalers and dealers of imported spirits and wines shall report in writing to the Collector of Internal Revenue not later than January 30, 1952 the quantity, type and brand of unlabeled spirits and wines in stock together with proof of tax payment having been made thereon. Upon receipt of such inventory and proof of tax payment the requisite number of regular and auxiliary labels shall be issued to the importer, wholesaler, or dealer by the Bureau of Internal Revenue, if in Manila, or the nearest internal revenue officer, if in the provinces, and beginning the thirty-first day of January, 1952, no imported distilled spirits or wines shall be removed from the premises of any importer, wholesaler or dealer without the proper auxiliary label being affixed thereto. Imported distilled spirits and wines found unlabeled after June 30, 1952 shall be presumed not to have been taxpaid and, therefore, subject to confiscation and forfeiture to the Government. Moreover, the possessor thereof shall be amenable to the penalties provided for in section 174 of the National Internal Revenue Code for unlawful possession of articles subject to the specific tax. SECTION 2. This regulations shall take effect on April 1, 1952. (SGD.) AURELIO MONTINOLA Secretary of Finance RECOMMENDED BY: (SGD.) S. DAVID Collector of Internal Revenue