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n 3. Procedures
n 4. Time of filing and payment of tax
n 5. Some Questions
n Who are required to file?
n Where should it be filed?
n Is docs. Stamp tax absolute?
n
n 6. Documentary Requirements
n 7. Form
PRESIDENTIAL DECREE No. 1045
November 5, 1976
MALACAÑANG M a n i l a
n WHEREAS, the Government is incurring revenue losses due to the use of fake or re-
used documentary and science stamps;
n WHEREAS, it is necessary to minimize if not eradicate this pernicious cause of revenue
loss;
n NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of
the powers vested in me by the Constitution, do hereby order and decree:
n Section 1. Any provision of law to the contrary notwithstanding, all existing
documentary and science stamps in denominations of ten pesos and above are
hereby withdrawn from circulation and declared without value. However, all
persons in possession of such documentary and science stamps are given three
months from the effective date of this decree to surrender such stamps to the
Bureau of Internal Revenue for the refund of the face value thereof.
n Section 2. Documentary and science stamps taxes of ten pesos or more shall be paid
to any authorized personnel of the Bureau of Internal Revenue or to the tellers of
any commercial bank, or to such other banks as may hereinafter be authorized to
accept payment of internal revenue taxes, who shall issue the corresponding
Official Receipt therefor.
n Section 3. No provision of this decree shall be deemed to abate or condone the
administrative, civil or criminal liability of any person for acts committed before
the enactment of this decree.
n Section 4. The Secretary of Finance, upon recommendation of the Commissioner of
Internal Revenue, shall issue the necessary regulations for the implementation of
this decree.
Title 1
Documentary Stamp Tax
Defined
and
n
Described …
What is
Documentary
Stamp tax?
a. Stamp Tax Defined:
n In Commissioner v. Heald lumber co.,
119 Phil 647
n
n
Title 2
Documents, instruments, and papers
etc..
Which needed to be stamped on
with their
corresponding fees and rates…
…in Matrix
SEC. 174. Stamp Tax on
Debentures and Certificates of
Indebtedness.
Tax Code Document Taxable Unit Tax Due Per % of Unit Taxable Base
Section Unit
Tax Code Document Taxable Tax Due Per % of Unit Taxable Base
Section Unit Unit
Tax Code Document Taxable Tax Due Per % of Unit Taxable Base
Section Unit Unit
Tax Code Document Taxable Tax Due Per % of Unit Taxable Base
Section Unit Unit
Tax Code Document Taxable Tax Due Per % of Unit Taxable Base
Section Unit Unit
Sec. 190 Jai-alai, Horse Race P1.00 cost of .10 10% Cost of the ticket
Tickets, lotto or ticket and
Other Authorized Additional
Number Games P0.10 on
every P1.00
or fraction
thereof if cost
of
ticket
exceeds
P1.00
SEC. 191. Stamp Tax on Bills of
Lading or Receipts.
Ta x Cod e Document Taxable Tax Due Per % of Unit Taxable Base
Se ct ion Unit Unit
Sec. 197 Charter parties 1,000 tons and P500.00 for the first 6 Tonnage and
months PlusP50 each
and below month or fraction thereof in
duration
Similar 1,001 to 10,000 excess of 6 months of the contrac
Instruments tons
t Over 10,000 P1,000 for the first 6
months Plus P100 each
tons month or fraction thereof in
excess of 6 months
REQUIREMENTS
Attachments
n 1. Photocopy of the document to which the
documentary stamp shall be affixed;
n 2. Original copy of duly approved Tax Debit
Memo, if applicable;
n 3. Proof of exemption under special laws, if
applicable.
n 4. Proof of payment of documentary stamp tax
paid upon the original issue of the stock, if
applicable.
Note: All background information
must be properly filled up.
n § All returns filed by an accredited tax agent on behalf of a
taxpayer shall bear the following information:
n A. For CPAs and others (individual practitioners and members
of GPPs);
n a.1 Taxpayer Identificat ion Number (TIN); and
n a.2 Certificate of Accreditation Number, Date of Issuance,
n and Date of Expiry.
n B. For members of the Philippine Bar (individual practitioners,
members of GPPs): b.1 Taxpayer Identification Number
(TIN); and
n b.2 Attorney’s Roll Number or Accreditation Number, if any.
n · BIR Form 2000-OT (in triplicate copies) should be filed for
every taxable document/transaction. Constructive affixture
means filing a tax return and paying the tax in accordance
DOCUMENTARY REQUIREMENTS
n 1) Photocopy of document(s) to which the
documentary stamp shall be affixed, in case of
constructive affixture of Documentary Stamp Tax
n
Questions???
Questions # 1
Who are required to file
Documentary Stamp Tax
Declaration Return?
Who can file? Answer
n This return shall be filed in triplicate by the
following person making, signing, issuing,
accepting or transferring the document or facility
evidencing transaction:
n
proving poverty
Answer
g. Statements and other compulsory information
required of persons or corporations by the rules
and regulations of the national, provincial, city or
municipal government exclusively for statistical
purposes and which are wholly for the use of the
Bureau or office in which they are filed, and not at
the instance or for the use or benefit of the
person filing them
h. Certified copies and other certificates placed
n
Questions # 5
What are the implications
of failure to stamp
taxable documents?
Answer
a. The untaxed document will not be recorded, nor
Sample …
Refer to form.
1) SEC. 1 7 3 . St a m p Ta xe s Up on
D ocu m e n t s,
Loa n Ag r e e m e n t s, In st r u m e n t s and
Pa p e r s.
Upon docum ent s, inst rum ent s, loan agreem ent s and
papers, and upon acceptances, assignments, sales and
transfers of the obligation, right or property incident thereto,
there shall be levied, collected and paid for, and in respect of the
transaction so had or accomplished, the corresponding
documentary stamp taxes prescribed in the following Sections of
this Title, by the person making, signing, issuing, accepting, or
transferring the same wherever the document is made, signed,
issued, accepted or transferred when the obligation or right
arises from Philippine sources or the property is situated in the
Philippines, and the same time such act is done or transaction
had:Provided, That whenever one party to the taxable document
enjoys exemption from the tax herein imposed, the other party
who is not exempt shall be the one directly liable for the tax.
n
n
SEC. 174. Stamp Tax on Debentures and
Certificates of Indebtedness.
n On all debentures and certificates of indebtedness issued by
any association, company or corporation, there shall be
collected a documentary stamp tax of One peso and fifty
centavos (P1.50) on each Two hundred pesos (P200), or
fractional part thereof, of the face value of such documents.
SEC. 175. Stamp Tax on Original Issue of
Shares of Stock.
n On every original issue, whether on organization, reorganization
or for any lawful purpose, of shares of stock by any
association, company or corporation, there shall be collected
a documentary stamp tax of Two pesos (P2.00) on each Two
hundred pesos (P200), or fractional part thereof, of the par
value, of such shares of stock: Provided, That in the case of
the original issue of shares of stock without par value the
amount of the
documentary stamp tax herein prescribed shall be based
upon the actual consideration for the issuance of such shares of
stock: Provided, further, That in the case of stock dividends, on
the actual value represented by each share.
n
SEC. 176. Stamp Tax on Sales, Agreements to Sell,
Memoranda of Sales, Deliveries or Transfer of Due-
bills, Certificates of Obligation, or Shares
of Certificates of Stock.
n On all sales, or agreements to sell, or memoranda of sale, or deliveries, or
transfer of due-bills, certificates of obligation, or shares of 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 due-
bills, certificates of obligation or stock, or to secure the future payment
of money, or for the future transfer of any due-bill, certificate of
obligation or stock, there shall be collected a documentary stamp tax of
One peso and fifty centavos (P1.50) on each Two undred pesos (P200)
or fractional part thereof, of the par value of such due-bill, certificate of
obligation or stock; Provided, That only one tax shall be collected on
each sale or transfer of stock or securities from one person to another,
regardless of whether or not a certificate of stock or obligation is issued,
indorsed, or delivered in pursuance of such sale or transfer: and,
Provided, further, That in the case of stock without par value the
amount of documentary stamp tax herein prescribed shall be equivalent
to twenty-five percent (25%) of the documentary stamp tax paid upon
the original issue of said stock.
SEC. 177. StampTax on Bonds, Debentures,
Certificate of Stock or
Indebtedness Issued in Foreign Countries.
n On all bonds, debentures, certificates of stock, or certificates
of indebtedness issued in any foreign country, there shall
be collected from the person selling or transferring the
same in the Philippines, such as tax as is required by law
on similar instruments when issued, sold or transferred
in the Philippines.
n
SEC. 178. Stamp Tax on Certificates of
Profits or Interest in Property or
Accumulations.
n On 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 transfers of
such certificates or memoranda, there shall be collected a
documentary stamp tax of Fifty centavos (P0.50) on each Two
hundred pesos (P200), or fractional part thereof, of the face
value of such certificate or
memorandum.
n
SEC. 179. Stamp Tax on Bank Checks,
Drafts, Certificates of Deposit not
Bearing Interest, and Other Instruments.
n 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, there shall be collected a documentary stamp tax of
One peso and fifty centavos (P1.50).
n
SEC. 180. Stamp Tax on All Bonds, Loan greements,
promissory Notes, Bills of Exchange, Drafts, Instruments and
Securities Issued by the Government or Any of its
Instrumentalities, Deposit Substitute Debt Instruments,
Certificates of Deposits Bearing Interest and Others Not
Payable on Sight or Demand.
n On all bonds, loan agreements, including those signed abroad, wherein the
object of the contract is located or used in the Philippines, bills of exchange
(between points within the Philippines), drafts, instruments andsecurities
issued by the Government or any of its instrumentalities, deposit substitute
debt instruments, certificates of deposits drawing interest, orders for the
payment of
n any sum of money otherwise than at sight or on demand, on all promissory
notes, whether negotiable or non-negotiable, except bank notes issued for
circulation, and on each renewal of any such note, there shall be collected a
documentary stamp tax of Thirty centavos (P0.30) on each Two hundred
pesos (P200), or fractional part thereof, of the face value of any such
agreement, bill of exchange, draft, certificate of deposit, or note: Provided,
That only one documentary stamp tax shall be imposed on either loan
agreement, or promissory notes issued to secure such loan, whichever will
yield a higher tax: Provided, however, That loan agreements or promissory
notes the aggregate of which does not exceed Two hundred fifty thousand
pesos (P250,000) executed by an individual for his purchase on installment
for his personal use or that of his family and not for business, resale, barter
or hire of a house, lot, motor vehicle, appliance or furniture shall be exempt
from the payment of the documentary stamp tax provided under this Section.
n
SEC. 181. Stamp Tax Upon Acceptance of
Bills of Exchange and
Others.
n Upon any acceptance or payment of any bill of exchange or
order for the
n payment of money purporting to be drawn in a foreign country
but payable in the
n Philippines, there shall be collected a documentary stamp tax of
Thirty centavos
n (P0.30) on each Two hundred pesos (P200), or fractional part
thereof, of the face
n value of any such bill of exchange, or order, or the Philippine
equivalent to such value,
n if expressed in foreign currency.
n
SEC. 182. Stamp Tax on Foreign Bills of
Exchange and Letters of
Credit.
n On all foreign bills of exchange and letters of credit (including orders, by
telegraph or otherwise, for the payment of money issued by express
or steamship companies or by any person or persons) drawn in but
payable out of the Philippines in a set of three (3) or more according
to the custom of merchants and bankers, there shall be collected a
documentary stamp tax of Thirty centavos (P0.30) on each Two
hundred pesos (P200), or fractional part thereof, of the face value
of any such bill of exchange or letter of credit, or the Philippine
equivalent of such face value, if expressed in foreign currency.
n
SEC. 183. Stamp Tax on Life
Insurance Policies.
n On all policies of insurance or other
instruments by whatever name the same
may be called, whereby any insurance shall
be made or renewed upon any life or lives,
there shall be collected a documentary
stamp tax of Fifty centavos (P0.50) on each
Two hundred pesos (P200), or fractional part
thereof, of the amount insured by any such
policy.
n
SEC. 184. Stamp Tax on Policies
of Insurance Upon Property.
n - On all policies of insurance or other instruments
by whatever name the same may be called, by
which insurance shall be made or renewed upon
property of any description, including rents or
profits, against peril by sea or on inland waters,
or by fire or lightning, there shall be collected a
documentary stamp tax of Fifty centavos (P0.50)
on each Four pesos (P4.00), or fractional part
thereof, of the amount of premium charged:
Provided, however, That no documentary stamp
tax shall be collected on reinsurance contracts
or on any instrument by which cession or
acceptance of insurance risks under any
SEC. 185. Stamp Tax on Fidelity
Bonds and Other Insurance
Policies.
n On all policies of insurance or bonds or obligations of the
nature of indemnity for loss, damage or liability made or
renewed by any person, association, company or
corporation transacting the business of accident, fidelity,
employer’s liability, plate, glass, steam, boiler, burglar,
elevator, automatic sprinkler, or other branch of insurance
(except life, marine, inland, and fire insurance), and all
bonds,
undertakings, or recognizances, conditioned for the
performance of the duties of any office or position, for the
doing or not doing of anything therein specified, and on all
obligations guaranteeing the validity or legality of any bond
or other obligations issued by any province, city, municipality,
or other public body or organization, and
on all obligations guaranteeing the title to any real
estate, or guaranteeing any mercantile credits, which may be
SEC. 186. Stamp Tax on Policies
of Annuities and Pre-Need Plans.
n - On all policies of annuities, or other instruments
by whatever name the same may be called,
whereby an annuity may be made, transferred or
redeemed, there shall be collected a
documentary stamp tax of One peso and fifty
centavos (P1.50) on each Two hundred pesos
(P200) or fractional part thereof, of the capital of
the annuity, or should this be unknown, then on
each Two hundred (P200) pesos, or fractional part
thereof, of thirty-three and one-third (33 1/3)
times the annual income. On pre-need plans, the
documentary stamp tax shall be Fifty centavos
(P0.50) on each Five hundred pesos (P500), or
SEC. 187. Stamp Tax on
Indemnity Bonds.
n On 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
or for the due execution or performance of the
duties of any office or position or to account for
money received by virtue thereof, and on all
other bonds of any description, except such as
may be required in legal proceedings, or are
otherwise provided for herein, there shall be
collected a documentary stamp tax of Thirty
centavos (P0.30) on each Four pesos (P4.00), or
fractional part thereof, of
n the premium charged.
SEC. 188. Stamp Tax on
Certificates.
n Tax Deduction :
Each spouse earning Taxable income can claim personal tax
relief of RM 8000 by filling separate tax returns.
n
n
3) Ask your employer to increase
your EPF contributions
n Contributions to the employees Provident Fund (EPF) by employers are
tax-exempt for the employees.
n
n To reduce your taxable income , ask your employer to reduce your EPF
monthly salary but increase your EPF contributions by the same
amount.
n
n Tax Deduction :
The deductible amount from your taxable income is dependent on the
arrangement between you and your employer.
n
n For Mr A : Mr A agrees to takle monthly pay cut of RM 1000 for an
equivalent increase in his EPF contributions by his employer.At the
end of the year , he receives an additional RM 12000 in his pension
fund but his taxable income is reduced by the same amount.
n
n The tax saving that he makes is RM 2880 ( RM12000@24%)
n
n
4) Change your cash
remuneration to cash
reimbursement
n Fixed allowances given by your employer each month
for entertainment and housing or parking fees are
taxable at your tax bracket.
n Change this to a “ reimbursement “ based on receipt
and you are not taxed on the amount received.
n
n Tax Deduction :
The deductible amount from your taxable income is
dependent on the arrangement between you and your
employer
n
n Tax deduction :
RM 5000 per individual
n
n Tax deduction :
The Amount of zakat that you pay
15) Buy a Computer
n A deduction of up to RM 3000 can be claimed
once every three years for the purchase of
computers , printers and bundled software .
n The similar i9ncentive given previously in the
form of a tax rebate was withdrawn with
effect from 2007
n