Section 177 – Stamp Tax on Certificate of Profits or Interest in Property or Accumulations

- All certificates of profits or any certificate or memorandum showing interest in the

property or accumulations of any association, company, or corporation, and on all
transfer of such certificate or memoranda, there shall be collected a documentary stamp
tax of Php 1.00 for every Php 200, or fractional parts thereof, of the face value of such
certificate.

Section 178 – Stamp Tax on Bank Checks, Drafts, Certificate of Deposit not bearing
interest and other Instruments.
Check – is an instrument containing an unconditional order to a banker directing him to pay a
specified sum of money to the person named therein.
Drafts – is an instrument created by the bank (drawer) to be given to a payee.
Check VS Drafts
Check Drafts
Parties Drawer, Drawee and payee Drawer or payee
Drawer Account holder of a bank One branch of a bank to another
Clearance and approval Required No need (assured)

- On each bank check, draft, or certificate of deposit not drawing interests, or order of
payment of any sum or any persons, companies or corporations, at sight or on demand,
there shall be collected a stamp tax of Php 3.00.