REVENUE REGULATIONS NO. 4-2003 issued on January 30, 2003 amends certain sections of Revenue Regulations No. 14-97, as amended, otherwise known as the Revenue Regulations Governing the Imposition of Excise Tax on Automobiles. Automobile refer to any four- (4) or more-wheeled vehicle, other than a truck, pick-up, jeep/jeepney, bus, or vehicle used for special purpose, which is propelled by gasoline or diesel and specially designed to transport persons and not primarily to transport freight or merchandise. The term automobile shall also include utility vehicles and Light Commercial Vehicles (LCVs) designed to carry both passenger and cargo, except when the seating capacity thereof is at least 10 or more adult passengers, including the driver, subject to the criteria used in determining the seating capacity prescribed in the Regulations. Closed or covered four-wheel drive vehicle, primarily designed to carry passengers, regardless of the number of seats, shall be considered and taxed as an automobile for purposes of the Regulations. The Excise Tax shall be imposed on the production, assembly or importation of automobiles, including Light Commercial Vehicles, payable before removal from place of production/assembly or from Bureau of Customs’ custody. Every manufacturer, assembler, producer, and importer of automobiles shall, before commencement of actual manufacture, assembly, production or importation, file with the appropriate BIR office having jurisdiction over the taxpayer-registrant an application for brand/model registration. In cases where previously registered brands/models are modified, any modification shall be compared with international version thereof as reflected in the original assembler’s/manufacturer’s certification and the published international catalogue, brochure or other advertising materials to determine whether or not such modified version conforms to the requirements of the Regulations. Accordingly, such modified version shall thereafter be registered with the appropriate BIR office having jurisdiction over the taxpayer-registrant. Every manufacturer/assembler/producer and/or importer of automobiles for sale shall post a surety bond which shall be conditioned upon the faithful compliance with laws and regulations relating to such business and for the satisfaction of all fines and penalties imposed by the Code.