Law Summary

Purpose of the Memorandum

The memorandum seeks to gather historical data regarding the importation of excisable goods—specifically imported cigarettes, fermented liquor, motor vehicles, and beer—over the last ten years, specifically from January 1979 to December 1998. This data will support the development of an excise tax database by the Department of Finance.

• Key Definitions:
  • Excise Goods: Items subject to excise taxes, including cigarettes, liquor, motor vehicles, and beer.

Information Requested

The memorandum outlines specific data points to be collected for each of the four categories of goods on a yearly basis.

• Required Information: • Volume of importation
  • Kind of importation
  • Price or Value of goods
  • Excise taxes collected
  • Name of importers

Reporting Requirements

The data collected must be compiled and submitted to the Statistical Analysis Division of the Financial Service.

• Important Procedures: • Reports must be compiled and submitted by the concerned entities.
  • Submission deadline: On or before December 15, 1999.

Authority and Adoption

The memorandum was adopted on November 15, 1999, and is signed by Julita S. Manahan, Deputy Commissioner of the Internal Administration Group.

• Enforcement: • All concerned parties are required to comply with the guidelines set forth in the memorandum.

Cross-References

• The memorandum references ongoing efforts by the Department of Finance to develop a comprehensive excise tax database, although no specific laws or regulations are cited directly within the text.

Key Takeaways

• The purpose of the memorandum is to collect historical importation data for certain excisable goods to aid in tax database development.
• Specific information is required for each category of goods, and there is a clear submission deadline of December 15, 1999.
• Compliance with the memorandum is mandatory for all concerned parties, ensuring that accurate and comprehensive data is reported to the Department of Finance.