AMENDING THE PROVISIONS OF SECTION 24 OF REVENUE REGULATIONS NO. 3-2006 PERTAINING TO THE INCREMENTAL REVENUE UNDER REPUBLIC ACT NO. 9334

SECTION 1. Scope – Pursuant to the provisions of Section
244, in relation to Section 245 of the National Internal Revenue Code (NIRC) of 1997, as amended, these Regulations are hereby promulgated to
amend certain provisions of Section 24 of Revenue Regulations No. 3-2006
pertaining to the allocable share of the Philippine Health Insurance
Corporation and the Department of Health in the annual incremental
revenue in accordance with the provisions of Republic Act No. 9334.

SECTION 2. Amending Provisions – Section 24 of RR No. 3-2006 is hereby amended to read as follows:

“SEC. 24. Incremental Revenue Under the Act – For purposes of
allocation of the two and one-half percent (2.5%) of the annual
incremental revenue collection under the Act, each in favor of the
Philippine Health Insurance Corporation (PHIC) and the Department of
Health (DOH) for the next five (5) years from the date of effectivity
of the Act, the BIR and the BOC shall submit to the Department of
Finance (DOF), on or before April 30 of the year immediately following
the year of collection, a sworn report of their respective annual
incremental revenue collected from locally manufactured and imported
alcohol and tobacco products, respectively, that were remitted to the
Bureau of Treasury. The said sworn report shall be submitted by the DOF
to the Department of Budget and Management (DBM), copy furnished the
PHIC and the DOH, on or before May 31 of each year.

For purposes of these Regulations, the incremental revenue shall be
equivalent to the amount of actual collection of excise taxes from
locally manufactured and imported alcohol and tobacco products for the
year under consideration in excess over that of the immediately
preceding year for the next five (5) years from the date of effectivity of the said Act or starting January 2005 until December 2009.”

SECTION 3. Effectivity – These Regulations shall take effect after fifteen (15) days following publication in leading
newspapers of general circulation.

Adopted: 3 April 2009

(SGD.) MARGARITO B. TEVES
Secretary of Finance

Recommending Approval:

(SGD.) SIXTO S. ESQUIVIAS IV
Commissioner of Internal Revenue