Amendment to Revenue Regulations No. V-62, as Amended by Revenue Regulations No. V-66

October 5, 1961 REVENUE REGULATIONS NO. V-75 SUBJECT : Amendment to Revenue Regulations No. V-62, as Amended by Revenue Regulations No. V-66 TO : All Internal Revenue Officers and Others Concerned The following regulations, amending Revenue Regulations No. V-62, as amended by Revenue Regulations No. V-66, are hereby promulgated and shall be known as Revenue Regulations No. V-75. SECTION 1. Section 5 of Revenue Regulations No. V-62, as amended by Revenue Regulations No. V-66, is hereby further amended by adding a new subsection thereto to be known as subsection (e) to read as follows: "(e) Exception : Wholesale establishments of manufacturers of articles covered by these regulations may be excepted from the requirements of this section provided that all sales made therein are duly covered by sales invoices regardless of the quantity and value of the articles sold; and provided further that such sales invoices shall indicate the name, address, and the number of the Class A Residence Certificate of the purchaser. It is also understood that such establishment must keep the books and records required by the Bookkeeping Regulations." SECTION 2. Date of Effectivity. These regulations shall take effect upon its publication in the Official Gazette. (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue APPROVED: (SGD.) FERNANDO E. V. SISON Acting Secretary of Finance January 22, 1962