REVENUE REGULATIONS NO. 23-2003 issued on August 28, 2003 implements the revised tax classification of new brands of alcohol products and variants thereof based on the current net retail prices determined in the nationwide survey conducted pursuant to RR No. 9-2003. The new rates of Excise Tax on the new brands of alcohol products and variants thereof that were introduced in the market after January 1, 1997 (as specified in Annex A of the Regulations) shall be imposed immediately after fifteen (15) days following the publication of the Regulations in a newspaper of general circulation.