Amendments to Revenue Regulations No. V-50, Otherwise Known as the Virginia Leaf Tobacco Regulations

February 12, 1958 REVENUE REGULATIONS NO. V-59 SUBJECT : Amendments to Revenue Regulations No. V-50, Otherwise Known as the Virginia Leaf Tobacco Regulations TO : All Internal Revenue Officers and Others Concerned SECTION 1. The last paragraph of Section 1 of Revenue Regulations No. V-50, as last amended by Revenue Regulations No. V-52, is hereby repealed. SECTION 2. Section 4 of Revenue Regulations No. V-50 is hereby amended to read as follows: Sec. 4. Limitations on the business of holders of L-3F, L-3R and L-4 permits. Holders of L-3F permits (FACOMAS) may purchase or receive flue-cured or sun-dried tobacco from bona fide tobacco planters only or from holders of L-4 permits, if the latter is a member of such FACOMAS, such tobacco to be sold or transferred, only in favor of holders of L-3R permits; holders of L-3R permits may purchase or receive only flue-cured or sun-dried tobacco from holders of L-3F or L-4 permits, such tobacco may be sold or transferred to cigarette manufacturers or any L-3 dealer; holders of L-4 permits may purchase or receive green leaf tobacco of their own production, such tobacco to be sold or transferred only to holders of L-3R permits after curing. For purposes of this section, wholesale leaf tobacco dealers (L-3, L-3F and L-3R) are required to submit together with the monthly transcript sheets as required in Regulations No. 17 of the Department of Finance, a certified statement showing the following: the names and addresses of sellers; the date of each transaction or sale; and the quantity in kilos of tobacco purchased. This monthly statement shall be accomplished in triplicate, the original to be attached to the monthly transcript sheet, one copy to be forwarded to the Deputy Provincial Treasurer and the remaining copy for the wholesale leaf tobacco dealer, concerned." SECTION 3. Date of Effectivity. These regulations shall take effect upon promulgation in the Official Gazette. (SGD.) JAIME HERNANDEZ Secretary of Finance Recommended by: (SGD.) JOSE ARAAS Commissioner of Internal Revenue