Escolar Documentos
Profissional Documentos
Cultura Documentos
Preliminary Topics
The purpose of the law imposing stamp taxes on documents. Instruments and
papers is to raise revenue and not to invalidate contracts or inflict penalties, and courts
should give it a liberal construction.
Being a privilege tax, the documentary stamp tax accrues when the privilege is
exercised, regardless of circumstances that may take place in the future like
cancellation or rescission.
Basis of liability
Persons liable
2. Time for filing and payment of the tax. – Except as provided by rules and
regulations promulgated by the Secretary of Finance, upon recommendation of the
commissioner, the tax return prescribed shall be filed within 10 days after the close of
the month when the taxable document was made, signed, issued, accepted or
transferred and the tax there on shall be paid at the same time the aforesaid return is
filed.
3. Where to file. – Except in cases where the Commission otherwise permits, the
aforesaid tax return shall be filed with and the tax due shall be paid through the
authorized agent bank within the territorial jurisdiction of the Revenue District Office
which has jurisdiction ove the residence or principal place of business on the taxpayer.
4. Exception. – In lieu of the foregoing provisions, the tax may be paid either through
purchase and actual affixture or by imprinting the stamps through a documentary stamp
metering machine, on the taxable document, in the manner as may be prescribed by
rules and regulations to be promulgated by the Secretary of Finance, upon the
recommendation of the Commissioner.
c. On stock dividends
2. Accrual of tax. – the tax accrues at the time of making the sale or
agreement to sell or memorandum of sale or delivery of or
transfer of the title of stock or of the right to subscribe for or to
receive such stocks.
1. Documents taxable. – any of the following defined below issued in any foreign
country:
a. bond
b. debenture
c. certificate of stock
d. certificate of indebtedness
2. When taxable. – they are taxable if issued, sold or transferred in the Philippines.
3. Basis and rate of tax. – the same tax is imposed upon similar instruments when
issued, sold or transferred in the Philippines.
1. Documents taxable:
1. Documents Taxable. – the tax applies to all bills of exchange between points within
the Philippines or drafts.
2. Basis and Rate of Tax. – on each P200.00 or fractional part thereof, of the face value
of any such bill of exchange or draft – P0.30.
On indemnity bonds
1. Documents taxable:
a. All bonds for indemnifying any person, firm or corporation who shall
become bound or engaged as surety for the payment of any sum of money.
2. Basis and rate of tax. – on each P4.00 or fractional part thereof of the premium
charges – P0.30.
Chapter 5
Documentary Stamp
Tax