REVENUE REGULATIONS NO. 9-2003 issued on February 26, 2003 amends certain provisions of RR Nos. 1-97 and 2-97 relative to the excise taxation of alcohol products, cigars and cigarettes for the purpose of prescribing the rules and procedures to be observed in the establishment of the current net retail price of new brands and variants of new brands of alcohol and tobacco products. New brands shall be classified according to their current net retail price, which shall be established through a survey or any other alternative activity specified in the Regulations. In the meantime that the current net retail price has not yet been established, the taxpayer’s suggested net retail price shall be used to determine the specific tax classification. In case the current net retail price, as approved, is higher than the suggested net retail price, the former shall prevail. Otherwise, the suggested net retail price shall prevail. Any deficiency in specific tax due shall be assessed and collected inclusive of increments, as provided for by the Code. Any variant of a new brand shall be classified according to its current net retail price, which shall be determined in the same manner as that for a new brand, provided that the tax classification shall not be lower than that of the highest tax classification of such new brand and any existing variant thereof. For all brands duly registered and introduced in the market beginning January 1, 1997, the current net retail price of which was not determined for the last two years from the effectivity hereof, a determination or re-determination of the current net retail prices thereof shall be conducted immediately upon the effectivity of the Regulations.