Summary
RMC No. 10-2006 suspends until further notice the implementation of certain provisions of Revenue Regulations No. 3-2006.
CollapseExpand
Key points
- Section 20 B. Suspended are the rule that only heads and tails of ethyl alcohol be used in denaturing ethyl alcohol, and the proviso that medicinal preparations using denatured alcohol as raw material are subject to excise tax as distilled spirits.
- Term rectification. The term rectification provided under Section 14 is suspended.
- Section 25, sub-paragraph (3). Suspended are the payment of excise tax on under-bond ethyl alcohol held by rectifiers and rectifiers-compounders who do not fall squarely under the definition of rectification as of the Regulations’ effectivity. The required inventory list submission and notice of disqualification to affected rectifiers or rectifier-compounders are also suspended.
Who is affected
- Rectifiers and rectifiers-compounders
- Manufacturers of medicinal preparations using denatured alcohol
Deadlines and effectivity
- Suspension until further notice
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.