SALE OF SHARES OF STOCK

- Subject to documentary stamp tax (DST):

- Rates:
1. With PAR VALUE: One peso and Fifty centavos(P1.50) on each 200 pesos, or fractional part
thereof of the par value of such stock.
2. Without PAR VALUE: 50% of the documentary stamp tax paid upon the original issue of said
stock.

EXEMPT TRANSACTIONS
The following are NOT subject to CGT:
1. Dealer in securities, regularly engaged in the buying and selling of securities.
2. An entity exempt from the payment of income tax under existing investment incentives and
other special laws.
3. An individual or non-individual exchanging real property solely for shares of stocks resulting in
corporate control.