REVENUE REGULATIONS NO. 7-2002 issued on June 24, 2002 rationalizes the issuance of permits issued by the Bureau of Internal Revenue to establishments subject to Excise Tax. All taxpayers engaged in the manufacture, production and importation of articles subject to Excise Tax, including dealers of leaf tobacco and manufacturers of cigarette and tipping papers, are required to surrender the original copy of the following permits for revalidation: 1) permit to operate as a manufacturer, producer, trader and/or importer; 2) permit to operate and maintain bonded storage facility/warehouse; 3) permit on any changes made on the designated place of production and/or storage facilities; and 4) other permits that cover continuing transaction and do not specify a definite date of expiration. The covered taxpayers shall submit an application for revalidation of permit, together with the original copy of their previously issued permit, to the offices specified in the Regulations on or before July 31, 2002. With respect to permits for changes on designated place of production/storage facilities, the revised/updated copy of the taxpayer’s plat and plan shall also be attached to the application. The revalidation of the existing permit applied for by the taxpayer shall be made by issuing a new permit after under-going the evaluation process prescribed by the Regulations. On the other hand, a notice of revocation shall be issued to concerned taxpayers whose applications are denied. Any person who fails to present the original copy of his/her permit are required to re-apply for registration with the offices specified in the Regulations on or before the deadline prescribed for the surrender of the original copy of permits. Any taxpayer covered by the Regulations who fails to apply for revalidation within the specified deadline shall be considered operating without a valid permit; and, as such, shall be subject to the imposition of appropriate penalties provided for under the existing laws, rules and regulations