ReSA - THE REVIEW SCHOOL OF ACCOUNTANCY CPA Review Batch 42 • October 2021

CPA Licensure Exam • Week No. 12

TAXATION A. Tamayo • G. Caiga • C. Lim • K. Manuel • E. Buen TAX-1501: DOCUMENTARY STAMP

TAX

A. Definition of DST
Documentary Stamp Tax (DST) is a tax on documents, instruments, loan agreements, and papers
evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident
thereto.

B. Nature of DST
DST is in nature of an excise tax levied on the exercise by person of certain privileges conferred by
law for the creation, revision, or termination of specific legal relationship through the execution of
specific instruments

C. Documents subject to DST

DST rates The DST rates shall be applicable on all documents not otherwise expressly
exempted from law, notwithstanding the fact they are in electronic form.

R.A. 8792, otherwise Under R.A. 8792, otherwise known as the Electronic Commerce Act,
known as the electronic documents are the functional equivalent of a written document
Electronic under existing laws, and the issuance thereof is therefore tantamount to
Commerce Act the issuance of a written document, and therefore subject to DST.

D. DST levied independently

DST levied upon DSTs are levied independently of the legal status of the transactions giving
issuance of documents rise thereto.

They must be paid upon the issuance of the instruments, without regard
to whether the contracts which gave rise to them are rescissible, void,
voidable, or unenforceable.

E. Persons liable for DST

Persons making the DST is a tax on certain transactions. It is imposed against the person
document or facility making, signing, issuing, accepting or transferring the document or
facility evidencing the aforesaid transaction .

On transaction itself In general, it may be imposed on the transaction itself or upon the
document underlying such act.

May be shared by Any of the parties thereto shall be liable for the full amount of the tax
parties liable to tax due. As between themselves, the parties may agree on who shall be
liable or how they may share on the cost of the tax.

Paid by one who is Whenever one of the parties to the taxable transaction is exempt from the
not exempt DST, the other party who is not exempt shall be the one directly liable for
the tax.

F. Payment of DST
 In general THE PROVISIONS OF PRESIDENTIAL DECREE NO. 1045
NOTWITHSTANDING, ANY PERSON LIABLE TO PAY
DOCUMENTARY STAMP TAX UPON ANY DOCUMENT SUBJECT
TO TAX UNDER TITLE VII OF THE TAX CODE SHALL FILE A TAX
RETURN AND PAY THE TAX IN ACCORDANCE WITH THE RULES
AND REGULATIONS TO BE PRESCRIBED BY THE SECRETARY OF
FINANCE, UPON RECOMMENDATION OF THE COMMISSIONER.

Time for filing and EXCEPT AS PROVIDED BY RULES AND REGULATIONS

payment of the tax PROMULGATED BY THE SECRETARY OF FINANCE, UPON
RECOMMENDATION OF THE COMMISSIONER, THE TAX RETURN
PRESCRIBED IN THIS SECTION SHALL BE FILED WITHIN TEN (10)
DAYS AFTER THE CLOSE OF THE MONTH WHEN THE TAXABLE
DOCUMENT WAS MADE, SIGNED, ISSUED, ACCEPTED, OR
TRANSFERRED, AND THE TAX THEREON SHALL BE PAID AT THE
SAME TIME THE AFORESAID RETURN IS FILED.

REVENUE REGULATIONS NO. 6-2001 PROVIDES THAT THE DST

RETURN SHALL BE FILED WITHIN FIVE (5) DAYS AFTER THE
CLOSE OF THE MONTH WHEN THE TAXABLE DOCUMENT WAS
MADE, SIGNED, ACCEPTED OR TRANSFERRED AND THE TAX
THEREON SHALL BE PAID AT THE SAME TIME THE AFORESAID
RETURN IS FILED.

Where to file EXCEPT IN CASES WHERE THE COMMISSIONER 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 OVER
THE RESIDENCE OR PRINCIPAL PLACE OF BUSINESS OF THE
TAXPAYER.

IN PLACES WHERE THERE IS NO AUTHORIZED AGENT BANK,

THE RETURN SHALL BE FILED WITH THE REVENUE DISTRICT
OFFICER, COLLECTION AGENT, OR DULY AUTHORIZED
TREASURER OF THE CITY OR MUNICIPALITY IN WHICH THE
TAXPAYER HAS HIS LEGAL RESIDENCE OR PRINCIPAL PLACE
OF BUSINESS.

Exception IN LIEU OF THE FOREGOING PROVISIONS OF THIS SECTION,

THE TAX MAY BE PAID EITHER THROUGH: a) PURCHASE
AND ACTUAL AFFIXTURE; OR
b) 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
RECOMMENDATION OF THE COMMISSIONER.

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ReSA – THE REVIEW SCHOOL OF ACCOUNTANCY TAX-1501 Week 12: DOCUMENTARY STAMP
TAX

G. Effects of failure to stamp taxable documents

Documents not to be AN INSTRUMENT, DOCUMENT OR PAPER WHICH IS REQUIRED
recorded BY LAW TO BE STAMPED AND WHICH HAS BEEN SIGNED,
ISSUED, ACCEPTED OR TRANSFERRED WITHOUT BEING DULY
STAMPED, SHALL NOT BE RECORDED.

Documents not AN INSTRUMENT, DOCUMENT OR PAPER OR ANY COPY

admitted or used in THEREOF OR ANY RECORD OF TRANSFER OF THE SAME WHICH
evidence in any court IS REQUIRED BY LAW TO BE STAMPED SHALL NOT BE
ADMITTED OR USED IN EVIDENCE IN ANY COURT UNTIL THE
 REQUISITE STAMP OR STAMPS ARE AFFIXED THERETO AND
CANCELLED.

No jurat or NO NOTARY PUBLIC OR OTHER OFFICE AUTHORIZED TO

acknowledgment ADMINISTER OATHS SHALL ADD THIS JURAT OR
shall be added ACKNOWLEDGMENT TO ANY DOCUMENT SUBJECT TO
DOCUMENTARY STAMP TAX UNLESS THE PROPER
DOCUMENTARY STAMPS ARE AFFIXED THERETO AND
CANCELLED.

H. DST on certain documents limited to shares of stock, sales, debt instruments and deeds of sale (tax base
and tax rate)
DST Under TRAIN

Section 174. Stamp Tax Twopesos (P2.00)oneach Twohundred pesos

on Original Issue of (P200),orfractionalpartthereof, of the par value, of such shares of stock
Shares of Stock.
In the case of the original issue of shares of stock without par value - based
On every original issue, upon the actual consideration forthe issuance of such shares of stock
whether on organization,
In the case of stock dividends - actual value represented by each share.”
reorganization or for any
lawful purpose, of shares
of stock by any
association, company or
corporation

Section 175. Stamp One peso and fifty centavos (P1.50) on each Two hundred pesos (P200), or
Tax on Sales, fractional part thereof, of the par value of such stock.
Agreements to Sell,
Memoranda of Sales, Only one tax shall be collected on each sale or transfer of stock from one
Deliveries or Transfer person to another, regardless of whether or not a certificate of stock is issued,
of Shares or indorsed, or delivered in pursuance of such sale or transfer.
Certificates of Stock
Inthe case of stockwithout par value - equivalent to fifty percent (50%) of
On all sales, or agreements the documentary stamp tax paid upon the original issue of said stock.”
to sell, or memoranda of
sale, or deliveries, or
transfer of shares or
certificates of stock in any
association, company, or
corporation, or transfer of
such securities by
assignment in blank, or
by delivery, or by any
paper or agreement, or
memorandum or other
evidences of transfer or
sale whether entitling the
holder in any manner to
the benefit of such stock,
or to secure the future
payment of money, or for
the future transfer of any
stock

SEC. 178. Stamp Tax on Three pesos (P3.00).”

Bank Checks, Drafts,
Certificates of Deposit
not Bearing Interest, and
Other Instruments.
 On each bank check, draft,
or certificate of deposit
not drawing interest, or
order for the payment of
any sum of money drawn
upon or issued by any
bank, trust company, or
any person or persons,
companies or
corporations, at sight
or on demand,

SEC. 179. STAMP ONE PESO AND FIFTY CENTAVOS (P1.50) ON EACH TWO HUNDRED
TAX ON ALL DEBT PESOS (P200), OR FRACTIONAL PART THEREOF, OF THE ISSUE
INSTRUMENTS PRICE OF ANY SUCH DEBT INSTRUMENTS.

On every original issue FOR SUCH DEBT INSTRUMENTS WITH TERMS OF LESS THAN ONE
of debt instruments (1) YEAR - PROPORTIONAL AMOUNT IN ACCORDANCE WITH THE
RATIO OF ITS TERM IN NUMBER OF DAYS TO THREE HUNDRED
SIXTY-FIVE (365)DAYS.

ONLY
ONEDOCUMENTARYSTAMPTAXSHALLBEIMPOSEDONEITHER
LOANAGREEMENT,ORPROMISSORYNOTES ISSUEDTOSECURE
SUCH LOAN.

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ReSA – THE REVIEW SCHOOL OF ACCOUNTANCY TAX-1501 Week 12: DOCUMENTARY STAMP
TAX
SEC.196. STAMP TAX “(A) WHENTHECONSIDERATION,ORVALUERECEIVED OR
ON DEEDS OF SALE, CONTRACTEDTO BE PAID FORSUCH REALTY,AFTER MAKING
CONVEYANCES PROPERALLOWANCEOFANYENCUMBRANCE,DOESNOTEXCEED
AND
DONATION ONE THOUSAND PESOS(P1,000), FIFTEEN PESOS(P15.00).
OFREALPROPERTY
. – “(B) FOR EACH ADDITIONAL ONE THOUSANDPESOS (P1,000), OR
ALLCONVEYANCE FRACTIONAL PART THEREOF IN EXCESS OFONE THOUSAND
S,DEEDS, PESOS (P1,000) OF SUCH CONSIDERATION OR VALUE, FIFTEEN
INSTRUMENTS, OR PESOS (P15.00).
WRITINGS,
OTHER THAN “WHEN IT APPEARS THAT THE AMOUNT OF THE DOCUMENTARY
GRANTS, PATENTS STAMP TAXPAYABLE HEREUNDERHAS BEEN
OR ORIGINAL REDUCEDBYANINCORRECTSTATEMENTOFTHECONSIDERATION
CERTIFICATESOF IN ANY CONVEYANCE, DEED, INSTRUMENT OR WRITING
ADJUDICATIONISSUED SUBJECTTOSUCHTAXTHECOMMISSIONER,PROVINCIALOR CITY
BY THE TREASURER,OROTHERREVENUEOFFICERSHALL,FROM THE
GOVERNMENT,
ASSESSMENT ROLLS OR OTHER RELIABLE SOURCE OF
WHEREBYANYLAN
D, TENEMENT,OR INFORMATION,ASSESSTHEPROPERTYOFITSTRUEMARKET
OTHERREALTYSOL VALUEANDCOLLECTTHE PROPERTAXTHEREON.”
D SHALL BE
GRANTED, “TRANSFERS EXEMPT FROM DONOR’S TAX UNDER SECTION
ASSIGNED, 101(A) AND (B) OF THE TAX CODE SHALL BE EXEMPT FROM THE
TRANSFERRED, TAX IMPOSED UNDER THIS SECTION.
DONATED OR
OTHERWISECONVE
YEDTOTHE
PURCHASER,ORPURC
HASERS, ORTO
ANYOTHERPERSONO
RPERSONS
 DESIGNATEDBYSUCH
PURCHASER OR
PURCHASERS, THERE
SHALL BE
COLLECTED A
DOCUMENTARY
STAMP TAX, AT THE
RATES HEREINBELOW
PRESCRIBED,BASEDO
NTHE
CONSIDERATION
CONTRACTED TO BE
PAID FOR SUCH
REALTY OR ON ITS
FAIR MARKET VALUE
DETERMINED IN
ACCORDANCE WITH
SECTION 6(E) OF THIS
CODE, WHICHEVER IS
HIGHER:
PROVIDED,THATWHE
NONE
OFTHECONTRACTING
PARTIES IS THE
GOVERNMENT, THE
TAX HEREIN IMPOSED
SHALL BE BASED
ONTHE ACTUAL
CONSIDERATION

I. Definition of terms
a. Shares of stock
Shares of stock shall include shares of stock of corporation; warrants
and/or options to purchase shares of stock, as well as units of participation
in a partnership (except general professional partnership), joint stock
companies, joint accounts, joint ventures taxable as corporations,
associations and recreation or amusement clubs (such as golf, polo or
similar clubs); and mutual fund certificates.

b. Certificates of Certificates of stock ar certificates representing the capital stock of stock

stock corporations divided into shares signed by the president or vice-president,
countersigned by the secretary or assistant secretary, and sealed with the seal
of the corporation in accordance with the by laws.

c. Stock dividend A stock dividend is any dividend payable in shares of stock the
corporation declaring or authorizing such dividend.

d. Bonds The term “bonds” refers to written obligations or undertaking that are
sufficiently secured by either cash or personal or real property or surety.

e. Bank check A bank check is a bill of exchange drawn on a bank payable on demand.

f. Bank draft A bank draft is a bill of exchange drawn by a bank upon its correspondent
bank, issued at the solicitation of a stranger who purchases and pays therefor.

g. Certificate of deposit A certificate of deposit is defined as “a written acknowledgment by a bank

or banker of the receipt of a sum of money on deposit which the bank or
banker promises to pay to the depositor, to the order of the depositor, or to
some other person or his order, whereby the relation of debtor and creditor
between the bank and the depositor is created.
 h. Debt instrument The term “debt instrument” shall mean instruments representing borrowing
and lending transactions including but not limited to, debentures,
certificates of indebtedness, due bills, bonds, loan agreements, including
those signed abroad wherein the object of contract is located or used in the
Philippines, instruments and securities issued by the government or any of
its instrumentalities, deposit substitute debt instruments, certificates or other
evidences of deposits that are either drawing interest significantly higher
than the regular savings deposit taking into consideration the size of the
deposit and the risks involved or drawing interest and having a specific
maturity date, orders for payment or any sum of money otherwise than at
sight or on demand, promissory notes, whether negotiable or non
negotiable, except bank notes issued for circulation.

i. Issue price Issue price shall refer to the face value of the debt instrument.

j. Deposit substitute Deposit substitute means an alternative form of obtaining funds from public,
other than deposits, through the issuance, endorsement, or acceptance of
debt instruments for the borrower’s own account, for the purpose of
relending or purchasing of receivables and other obligations, or financing
their own needs or the needs of their agent or dealer.

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k. Loan agreement Loan agreement refers to a contract in writing where one of the parties
delivers to another money or other consumable thing, upon the condition that
the same amount of the same kind and quality shall be paid.

l. Bank deposits Bank deposits are in the nature of irregular deposits; they are really loans
because they bear interest, and the relationship between a depositor and a
bank is one of creditor and debtor, and one fiduciary in nature, in which the
bank is under obligation to treat the accounts of its depositors with
meticulous care and utmost fidelity.

m. Certificate of A “CERTIFICATE OF DEPOSIT” IS A WRITTEN ACKNOWLEDGMENT

deposit BY A BANK OR BANKER OF THE RECEIPT OF A SUM OF MONEY
ON DEPOSIT WHICH THE BANK OR BANKER PROMISES TO PAY TO
THE DEPOSITOR, TO THE ORDER OF THE DEPOSITOR, OR TO
SOME OTHER PERSON OR HIS ORDER, WHEREBY THE RELATION
OF DEBTOR AND CREDITOR BETWEEN THE BANK AND THE
DEPOSITOR IS CREATED.

A “CERTIFICATE OF DEPOSIT” IS ALSO DEFINED AS A RECEIPT

ISSUED BY A BANK FOR AN INTEREST-BEARING TIME DEPOSIT
COMING DUE AT A SPECIFIED FUTURE DATE.

n. Demand deposits Demand deposits are deposits, subject to withdrawal either by check or thru
the automated tellering machines which are otherwise known as current or
checking accounts. The Bank may or may not pay interest on these accounts.

o. Savings deposits Savings deposits are interest-bearing deposits which are withdrawable either
upon presentation of a property accomplished withdrawal slip together with
the corresponding passbook or thru the automated tellering machines.

p. Negotiable Order Negotiable Order of Withdrawal Accounts are interest-bearing savings deposit
of Withdrawal which are withdrawable by means of Negotiable Orders of Withdrawal.
Accounts

q. Time Deposits Time Deposits are interest-bearing deposits with specific maturity dates and
evidenced by certificates issued by the bank.
 r. Tiered deposits Tiered deposits are usually long-term bond notes that are being floated to the
public to raise capital and the interest rates are usually fixed according to
their capital brackets. These are considered as debt instruments subject to DST
under Section 179 upon placement of the deposit by the subscriber or upon
renewal of the placement.

s. Bill of exchange Bill of exchange” is an unconditional order in writing addressed by one

person to another, signed by the person giving it, requiring the person to
whom it is addressed to pay on demand or at a fixed or determinable future
time a sum certain in money to order or to bearer.

t. Letter of credit A “letter of credit” is one of the modes of payment, by which commercial
banks sell foreign exchange to service payments for, e.g., commodity
imports, the primary purpose of which is to substitute for, and therefore
support, the agreement of the buyer/ importer to pay money under a contract
or other arrangement.

u. Warehouse receipt A “warehouse receipt” is a receipt issued by a warehouseman for commodity

delivered to him in store for the person to whom the receipt is issued. It need
not conform to the requirements of the Warehouse Receipt Act to be a
warehouse receipt, as the requirements are merely permissive. A warehouse
is a person lawfully engaged in the business of storing goods for profit.

v. Bill of lading A “bill of lading” is a written acknowledgement or the receipt of the goods
and an agreement to transport and deliver them at a specified place to a
person named or on his order. Such instruction may be called a shipping
receipt, forwarder’s receipt and receipt for transportation. The designation,
however, is immaterial. It has been held that freight tickets for bus companies
as well as receipts for cargo transported by all forms of transportation,
whether by sea, air or land, fall within the definition. In other words, a bill of
lading has a two (2)-fold character: it is a receipt as to the quantity and
description of the goods shipped and a contract to transport the goods to the
consignee or other person therein designated, on the terms specified in such
instrument.

w. Chattel mortgage “Chattel mortgage” is a contract which purports to be and in form a sale of
personal property, intended as security for the payment of a debt, or the
performance of some other obligation specified therein, upon the condition
subsequent that such sale shall be void upon payment of the debt or
performance of the specified obligation according to the terms of the contract.

x. Antichresis An “antichresis” is a mortgage in possession. It entails the lawful acquisition

by the mortgage of the possession, actually or constructively, of immovable
property mortgaged, with the creditor standing upon his rights merely as
mortgagee, not as owner, for the purpose of enforcing his security upon such
property and allowing its income to pay for the debt. The mortgagee is
obliged to account for the fruits received deductible from the total amounts
due the mortgagee.

y. Deed of trust A deed of trust in the nature of a mortgagee is a conveyance in trust by way of
security, subject to a condition of defeasance, or redeemable at any time
before the sale of the property.

z. Deed conveying land A deed conveying land to a trustee as mere collateral security for the payment
of a debt, with the condition that it shall become void on the payment of the
debt when due, and with power to the trustee to sell the land and pay the debt
in case of default on the part of the debtor, is a deed of trust in the nature of a
mortgage.

aa. Charter party It is a charter party where there is an entire surrender by the owner of the
vessel to the charterer, who hires the vessel as one hires a house, takes her
empty, and provides the officers and provisions, and, in short, the entire
outfit. In such a contract, the charterer is substituted in place of the owner and
becomes the owner for the voyage. It is also known as a bareboat charter or
otherwise referred to as demise of the vessel.

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J. DST on certain documents limited to shares of stock, sales, debt instruments and deeds of sale (tax base
and tax rate)
1. Section 174. Stamp Tax on Original Issue of Shares of Stock.
Documents Tax base Tax

a. On every original issue, whether Oneach Twohundred pesos Twopesos (P2.00)

on organization, reorganization or (P200),or fractionalpart thereof,
for any lawful purpose, of shares of of the par value, of such shares of
stock by any association, company stock
or corporation

b. In the case of the original Based upon the actual Twopesos (P2.00)
issue of shares of stock consideration for the issuance of
without par value such shares of stock

c. In the case of stock dividends Actual value represented by each Twopesos (P2.00)
share

2. Section 175. Stamp Tax on Sales, Agreements to Sell, Memoranda of Sales, Deliveries or
Transfer of Shares or Certificates of Stock
Documents Tax base Tax

a. On all sales, or agreements to sell, On each Two hundred pesos One peso and fifty
or memoranda of sale, or (P200), or fractional part thereof, centavos (P1.50)
deliveries, or transfer of of the par value of such stock.
1) shares or certificates of stock in
any association, company, or
corporation, or 2) transfer of such
securities by assignment in blank,
or
3) by delivery, or by any paper or
agreement, or memorandum or
4) other evidences of transfer
or sale whether entitling
the holder in any
manner to the benefit of such
stock, or to secure the future
payment of money, or for the
future transfer of any stock

Onlyone tax shall be collected on

each sale or transfer of stock from
one person to another, regardless
of whether or not a certificate of
stock is issued, indorsed, or
delivered in pursuance of such sale
or transfer.

b. Inthe case of stock without par value Equivalent to fifty percent (50%)
of the documentary stamp tax paid
upon the original issue of said
stock.”

3. SEC. 178. Stamp Tax on Bank Checks, Drafts, Certificates of Deposit not Bearing Interest,
and Other Instruments.
 Documents Tax base Tax

a. Bank Checks, On each Three pesos

b. Drafts, 1) bank check, draft, or (P3.00).”
c. Certificates of Deposit not certificate of deposit not
Bearing Interest, and drawing interest, or
d. Other Instruments. 2) order for the payment of
any sum of money drawn
upon or issued by any bank,
trust company, or any
person or persons, companies or
corporations, at sight or on
demand,

4. SEC. 179. STAMP TAX ON ALL DEBT INSTRUMENTS

Documents Tax base Tax

a. ON EVERY ORIGINAL ISSUE OF ON EACH TWO HUNDRED One peso and fifty
DEBT PESOS (P200), OR centavos (P1.50)
INSTRUMENTS FRACTIONAL PART
THEREOF, OF THE ISSUE
PRICE OF ANY SUCH DEBT
INSTRUMENTS.

b. DEBT INSTRUMENTS WITH PROPORTIONAL AMOUNT IN

TERMS OF LESS THAN ONE ACCORDANCE WITH THE
(1) YEAR RATIO OF ITS TERM IN
NUMBER OF DAYS TO THREE
HUNDRED SIXTY-
FIVE(365)DAYS.

c. ONLY ONE DOCUMENTARY

ONEDOCUMENTARYSTAMPTAX STAMP TAX SHALL BE
IMPOSED ON EITHER LOAN
AGREEMENT, OR
PROMISSORY NOTES ISSUED
TO SECURE SUCH LOAN.

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5. SEC.196. Stamp Tax on Deeds of Sale, Conveyances and Donation of Real Property.
Documents Tax base Tax

a. All conveyances, deeds, Consideration contracted to be FIFTEENPESOS

instruments, or writings, other paid for such realty or on its fair
than grants, patents or original market value whichever is
certificates of adjudication issued higher
by theGovernment, whereby any
land, a.
tenement, or other realty sold shall WHENTHECONSIDERATION (P15.00).
be granted, assigned, transferred, ,ORVALUE RECEIVED OR
donated or otherwise conveyed to: CONTRACTEDTO BE PAID
1) the purchaser, or purchasers, or FOR SUCH REALTY,AFTER
2) toanyotherpersonorpersons MAKING PROPER
designated bysuch purchaser or
ALLOWANCEOFANYENC
purchasers FIFTEEN
UMBRANCE,DOESNOT
 EXCEED PESOS(P15.00).
ONETHOUSANDPESOS(P
1,000),

b. FOR EACH ADDITIONAL

ONE THOUSAND PESOS
(P1,000), OR FRACTIONAL
PART THEREOF INEXCESS
OFONE THOUSAND PESOS
(P1,000) OF SUCH
CONSIDERATION OR
VALUE,

b. One of the contracting Actual consideration FIFTEEN PESOS

parties is the Government a.
WHENTHECONSIDERATION
,ORVALUE RECEIVED OR
CONTRACTEDTO BE PAID
FOR SUCH REALTY,AFTER
(P15.00).
MAKING PROPER
ALLOWANCEOFANYENC
UMBRANCE,DOESNOT
EXCEED
ONETHOUSANDPESOS(P
1,000),
FIFTEEN PESOS
b. For each additional One
thousand pesos (P1,000),
or fractional part
thereof in excess of One
thousand pesos (P1,000) of
such consideration or value (P15.00).

b. AMOUNT OF THE WHEN IT APPEARS THAT

DOCUMENTARY STAMP THE AMOUNT OF THE
TAX PAYABLE HAS BEEN DOCUMENTARY STAMP
TAXPAYABLE HAS BEEN
REDUCEDBYANINCORREC
REDUCED BYAN INCORRECT
T
STATEMENTOF
STATEMENTOFTHECONSI
THECONSIDERATION IN ANY
DERATION CONVEYANCE, DEED,
INSTRUMENT OR WRITING
SUBJECTTO
SUCHTAXTHECOMMISSIONE
R,PROVINCIALOR
CITYTREASURER,OROTHERR
EVENUEOFFICER
SHALL,FROM THE
ASSESSMENT ROLLS OR
OTHER RELIABLE SOURCE
OF INFORMATION, ASSESS
THEPROPERTYOF ITS
 TRUEMARKET
VALUEANDCOLLECTTHEPR
OPERTAX.

c. TRANSFER EXEMPT FROM “TRANSFERS EXEMPT FROM

DONOR’S TAX DONOR’S TAX UNDER
SECTION101(A) AND (B) OF
THE TAX CODE SHALL BE
EXEMPT FROM THE
DOCUMENTARY STAMP
TAX IMPOSED UNDER THIS
SECTION.

- = END = -

THOT: We cannot discover new oceans unless we have the courage to lose sight of the shore. - Teen Esteem jb

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