Stamp taxes upon documents, instruments, and papers.
SEC. 210. Stamp taxes upon documents, instruments, and papers. — Upon documents, instruments, 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, and at the time such act is done or transaction had.
Stamp tax on bonds, debentures, and certificates of indebtedness.
SEC. 211. Stamp tax on bonds, debentures, and certificates of indebtedness. — On all bonds, debentures, and certificates of indebtedness issued by any association, company, or corporation, there shall be collected a documentary stamp tax of twenty centavos on each two hundred pesos, or fractional part thereof, of the face value of such documents.
Stamp tax on original issue of certificates of stock.
SEC. 212. Stamp tax on original issue of certificates of stock. — On every original issue, whether on organization, reorganization, or for any lawful purpose, of certificates of stock by any association, company, or corporation, there shall be collected a documentary stamp tax of twenty centavos on each two hundred pesos, or fractional part thereof, of the par value of such certificates: Provided, That in the case of the original issue of stock without par value the amount of the documentary stamp tax herein prescribed shall be based upon the actual consideration received by the association, company, or corporation for the issuance of such stock and in the case of stock dividends, on the actual value represented by each share.
SEC. 213. Stamp tax on sales, agreements to sell, memoranda of sales, deliveries or transfers of bonds, due bills, certificates of obligation, or shares or certificates of stock. — On all sales, or agreements to sell, or memoranda of sales, or deliveries, or transfer of bonds, due-bills, certificates of obligation, or 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 bonds, due-bills, certificates of obligation or stock, or to secure the future payment of money, or for the future transfer of any bond, due-bill, certificate of obligation or stock, there shall be collected a documentary stamp tax of four centavos on each two hundred pesos, or fractional part thereof, of the par value of such bond, due-bill, certificates of obligation or stock, there shall be collected a documentary stamp tax of four centavos on each two hundred pesos or fractional part thereof of the par value of such bond, due bills, certificates 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 certificates 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 the documentary stamp tax herein prescribed shall be equivalent to twenty per centum of the documentary stamp tax paid upon the original issue of said stock.
Stamp tax on bonds, debentures, certificates of stock or indebtedness issued in foreign countries.
SEC. 214. Stamp tax on bonds, debentures, certificates of stock or indebtedness issued in foreign countries. — 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 tax as is required by law on similar instruments when issued, sold, or transferred in the Philippines.
Stamp tax on certificates of profits or interest in property or accumulations.
SEC. 215. Stamp tax on certificates of profits or interest in property or accumulations. — On all certificates of profits, 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 two centavos on each two hundred pesos, or fractional part thereof, of the face value of such certificate or memorandum.
SEC. 216. Stamp tax on 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, there shall be collected a documentary stamp tax of two centavos.
SEC. 217. Stamp tax on negotiable promissory notes, bills of exchange, drafts, certificates of deposit bearing interest and others not payable on sight or demand. — On all bills of exchange (between points within the Philippines), drafts or certificates of deposit drawing interest, or orders for the payment of any sum of money otherwise than at sight or on demand, or on all negotiable promissory notes, except bank notes issued for circulation, and on each renewal of any such note, there shall be collected a documentary stamp tax of two centavos on each two hundred pesos, or fractional part thereof, of the face value of any such bill of exchange, draft, certificate of deposit, or note.
Stamp tax upon acceptance of bills of exchange and others.
SEC. 218. Stamp tax upon acceptance of bills of exchange and others. — Upon any acceptance or payment of any bill of exchange or order for the payment of money purporting to be drawn in a foreign country but payable in the Philippines, there shall be collected a documentary stamp tax of four centavos on each two hundred pesos, or fractional part thereof, of the face value of any such bill of exchange or order, or the Philippine equivalent of such value, if expressed in foreign currency.
Stamp tax on foreign bills of exchange and letters of credit.
SEC. 219. Stamp tax on foreign bills of exchange and letters of credit. — 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 or more according to the custom of merchants and bankers, there shall be collected a documentary stamp tax of four centavos on each two hundred pesos, 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.
Stamp tax on life insurance policies.
SEC. 220. Stamp tax on life insurance policies. — 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 ten centavos on each two hundred pesos, or fractional part thereof, of the amount insured by any such policy.
Stamp tax on policies of insurance upon property.
SEC. 221. Stamp tax on policies of insurance upon property. — 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 four centavos on each four pesos, or fractional part thereof, of the amount of premium charged.
Stamp tax on fidelity bonds and other insurance policies.
SEC. 222. Stamp tax on fidelity bonds and other insurance policies. — 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 bonds 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 made or renewed by any such person, company or corporation, there shall be collected a documentary stamp tax of four centavos on each four pesos, or fractional part thereof, of the premium charged.
Stamp tax on policies of annuities.
SEC. 223. Stamp tax on policies of annuities. — 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 twenty centavos, on each two hundred pesos, or fractional part thereof, of the capital of the annuity, or should this be unknown, then on each two hundred pesos, or fractional part thereof, of thirty-three and one-third times the annual income.
Stamp tax on indemnity bonds.
SEC. 224. Stamp tax on indemnity bonds. — 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 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 of fifty centavos.
Stamp tax on certificates.
SEC. 225. Stamp tax on certificates. — On each certificate of damage, or otherwise, and on every other certificate or document issued by any customs officer, marine surveyor, or other person acting as such, and on each certificate issued by a notary public, and on each certificate of any description required by law, or by rules or regulations of a public office, or which is issued for the purpose of giving information, or establishing proof of a fact, and not otherwise specified herein, there shall be collected a documentary stamp tax of twenty centavos: Provided, That in the case of tax clearance certificates, there shall be collected a documentary stamp tax of ten pesos on each certificate for a first class passenger; five pesos for a second or tourist class passenger; and one peso for a third class or steerage passenger.
Stamp tax on warehouse receipts.
SEC. 226. Stamp tax on warehouse receipts. — On each warehouse receipt for property held in storage in a public or private warehouse or yard for any other person than the proprietor of such warehouse or yard himself, there shall be collected a documentary stamp tax of twenty centavos: Provided, That no tax shall be collected on each warehouse receipt issued to any one person in any one calendar month covering property the value of which does not exceed two hundred pesos.
Stamp tax on bills of lading or receipts.
SEC. 227. Stamp tax on bills of lading or receipts. — On each set of bills of lading or receipts (except charter party) for any goods, merchandise, or effects shipped from one port or place in the Philippines to another port or place in the Philippines, or to any foreign port, there shall be collected a documentary stamp tax of four centavos, if the value of such goods exceeds five pesos and does not exceed two hundred pesos; ten centavos, if the value exceeds two hundred pesos and does not exceed one thousand pesos; twenty centavos, if the value exceeds one thousand pesos and does not exceed five thousand pesos and does not exceed ten thousand pesos; and one peso, if the value exceeds ten thousand pesos
Stamp tax on passage tickets.
SEC. 228. Stamp tax on passage tickets. — On each passage ticket, whether a single fare or return ticket, or any receipt for money paid for the passage of a person on any vessel or other means of transportation other than a vessel or other means of transportation belonging to the Government of the Philippines or the Government of the United States from any port or place in the Philippines to any port or place in the United States, or any other foreign country there shall be collected a documentary stamp tax at the following rates:
(a) If said passage costs not more than sixty pesos, three pesos.
(b) If said passage costs not more than sixty pesos, and not more than one hundred twenty pesos, five pesos.
(c) If said passage costs more than one hundred and twenty pesos and not more than two hundred and fifty pesos, seven pesos.
(d) If said passage costs more than two hundred and fifty pesos, ten pesos.
Stamp tax on proxies.
SEC. 229. Stamp tax on proxies. — On each proxy for voting at any election for officers of any company or association, or for any other purpose, except proxies issued affecting the affairs of associations or corporations organized for religious, charitable, or literary purposes, there shall be collected a documentary stamp tax of thirty centavos.
Stamp tax on powers of attorney.
SEC. 230. Stamp tax on powers of attorney. — On each power of attorney to perform any act whatsoever, except acts connected with the collection of claims due from or accruing to the Government of the United States, the Government of the Philippines or the government of any province, city, or municipality, there shall be collected a documentary stamp tax of twenty centavos; Provided, however, That on each power of attorney which authorizes another to administer, sell, lease, or otherwise dispose of the property of a principal, there shall be collected a documentary stamp tax of forty centavos
Stamp tax on leases and other hiring agreements.
SEC. 231. Stamp tax on leases and other hiring agreements. — On each lease, agreement, memorandum, or contract for the hire, use or rent of any lands or tenements, or portions thereof, there shall be collected a documentary stamp tax at the following rates:
(a) If executed for not more than one year, forty centavos
(b) If executed for more than one year and not more than three years, one peso.
(c) If executed for more than three years, two pesos.
Stamp tax on mortgages, pledges, and deeds of trust.
SEC. 232. Stamp tax on mortgages, pledges, and deeds of trust. — On every mortgage or pledge of lands, estate, or property, real or personal, heritable or movable, whatsoever, where the same shall be made as a security for the payment of any definite and certain sum of money lent at the time or previously due and owing or forborne to be paid being payable, and on any conveyance of land, estate, or property, whatsoever, in trust or to be sold, or otherwise converted into money, which shall be and intended only as security, either by express stipulation or otherwise, there shall be collected a documentary stamp tax at the following rates:
(a) When the amount for which the mortgage or deed of trust is given exceeds one thousand pesos and does not exceed three thousand pesos, one peso.
(b) On each three thousand pesos or fractional part thereof in excess of three thousand pesos, an additional tax of one peso.
Stamp tax on deeds of sale and conveyance of real property.
SEC. 233. Stamp tax on deeds of sale and conveyance of real property. — On all conveyance, deeds, instruments, or writings, other than grants, patents, or original certificates of adjudication issued by the Government, whereby any lands, tenements, or other real property sold shall be granted, assigned, transferred, or otherwise conveyed to the purchaser or purchasers, or to any other person or persons designated by such purchaser or purchasers, there shall be collected a documentary stamp tax at the following rates:
(a) When the consideration, or value received or contracted to be paid for such real property, after making proper allowance for any encumbrance, exceeds two hundred pesos and does not exceed one thousand pesos, fifty centavos.
(b) For each additional one thousand pesos, or fractional part thereof in excess of one thousand pesos of such consideration or value, one peso.
When it appears that the amount of the documentary stamp tax payable thereunder has been reduced by an incorrect statement of the consideration in any conveyance, deed, instrument, or writing subject to such tax, the Collector of Internal Revenue, provincial or city treasurer, or other revenue officer shall from the assessment rolls or other reliable source of information, assess the property at its true market value and collect the proper tax thereon.
Stamp tax on charter parties and similar instruments.
SEC. 234. Stamp tax on charter parties and similar instruments. — On every charter party, contract, or agreement for the charter of any ship, vessel, or steamer, or any letter or memorandum or other writing between the captain, master, or owner, or other person acting as agent of any ship, vessel, or steamer, and any other person or persons for or relating to the charter of any ship, vessel, or steamer, and on any renewal or transfer of such charter, contract, agreement, letter, or memorandum, there shall be collected a documentary stamp tax at the following rates:
(a) If the registered gross tonnage of the ship, vessel or steamer does not exceed three hundred tons, and the duration of the charter or contract does not exceed six months, twelve pesos; and for each month or fraction of a month in excess of six months, an additional tax of two pesos shall be paid.
(b) If the registered gross tonnage exceeds three hundred tons and does not exceed six hundred tons, and the duration of the charter or contract does not exceed six months, twenty-four pesos; and for each month or fraction of a month in excess of six months, an additional tax of four pesos shall be paid.
(c) If the registered gross tonnage exceeds six hundred tons and the duration of the charter or contract does not exceed six months, forty-eight pesos; and for each month or fraction of a month in excess of six months, an additional tax of eight pesos shall be paid.
Stamp tax on assignments and renewals of certain instruments.
SEC. 235. Stamp tax on assignments and renewals of certain instruments. — Upon each and every assignment or transfer of any mortgage, lease, or policy of insurance, or the renewal or continuance of any agreement, contract, charter, or an evidence of obligation or indebtedness by altering or otherwise, there shall be levied, collected and paid a documentary stamp tax, at the same rate as that imposed on the original instrument.
Documents and papers not subject to stamp tax.
SEC. 236. Documents and papers not subject to stamp tax. — The following instruments, documents, and papers shall be exempt from the documentary stamp tax:
(a) Bonds, debentures, and certificates of indebtedness issued by the National Government or any provincial, city, or municipal government.
(b) Checks, drafts, warrants, and bills of exchange issued in payment of any debt, obligation, or liability, or in fulfillment of any contract of the Government of the United States, or the National Government, or of a provincial, city, or municipal government.
(c) Policies of insurance or annuities made or granted by a fraternal or beneficiary society, order, association, or cooperative company, operated on the lodge system or local cooperation plan, and organized and conducted solely by the members thereof for the exclusive benefit of its members and not for profit.
(d) Certificates of oaths administered to any Government official, in his official capacity, or of acknowledgment by any Government official in the performance of his official duties; written appearances in any court by any Government official, in his official capacity; certificates of the administration of oaths to any person as to the authenticity of any paper required to be filed in court by any person or party thereto, whether the proceedings be civil or criminal; papers and documents filed in courts by or for the Government of the United States, or the national, provincial, city, or municipal governments; affidavits of poor persons for the purpose of proving poverty; statements and other compulsory information required of persons or corporations by rules and regulations of the Government of the United States, or the national, provincial, city, or municipal governments exclusively for statistical purposes and which are wholly for the use of the bureau or office in which the same are filed, and not at the instance or for the use or benefit of the person filing the same; certified copies and other certificates placed upon documents, instruments, and papers for the Government of the United States, or for the national, provincial, city, or municipal governments, made at the instance and for the sole use of some other branch of the Government of the United States, or of the national, provincial, city, or municipal governments; and certificates of the assessed value of lands, not exceeding two hundred pesos in value assessed, furnished by provincial, city, or municipal treasurer to applicants for registration of title to land.
When any bond, note, or other obligation is secured by a mortgage, pledge, deed of trust, or by the assignment or transfer of any documentary security, one tax only shall be collected upon such papers, such tax to be at the highest rate imposed on such mortgage, bond, note, obligation, or other document, as the case may be.
Payment of documentary stamp tax cancellation of stamp.
SEC. 237. Payment of documentary stamp tax cancellation of stamp. — Documentary stamp taxes shall be paid by the purchase and affixture of documentary stamps to the document or instrument taxed or to such other paper as may be indicated by law or regulations as the proper recipient of the stamp, and by the subsequent cancellation of the same, such cancellation to be accomplished by writing, stamping, or perforating the date of the cancellation across the face of each stamp in such manner that part of the writing, impression, or perforation shall be on the stamp itself and part on the paper to which it is attached: Provided, That, if the cancellation is accomplished by writing or stamping the date of cancellation, a hole sufficiently large to be visible to the naked eye shall be punched, cut or perforated on both the stamp and the document either by the use of a hand punch, knife, perforating machine, scissors, or any other cutting instrument; but if the cancellation is accomplished by perforating the date of cancellation, no other hole need be made on the stamp.
In appropriate cases, and in the discretion of the Collector of Internal Revenue, documentary stamps may be imprinted on certain documents upon payment of the face value of such stamps, in which case the imprinted stamps need not be canceled as indicated in the preceding paragraph.
When the evidence of a sale or transfer is shown only on the books of a company, the stamp shall be affixed to such books; and in case of the issuance of certificates of stock or other securities or passage tickets, the stamp shall be affixed to the stub or duplicate to be kept in the office of the person or company issuing such certificates, securities, or tickets; and in case the change of ownership is by transfer of certificates the stamp shall be affixed to the certificate; and in case of an agreement to sell, or when the transfer is by delivery of the certificate assigned in blank, there shall be made and delivered by the seller to the buyer a bill or memorandum of such sale to which the stamp shall be affixed; and every such bill or memorandum of sale, or agreement to sell, shall show the date thereof, the name of the seller and/or of the purchaser, the amount of the sale, and matter or thing to which it refers: Provided, That where the sale is effected through a broker, the memorandum of sale herein required shall be made and delivered by said broker: And provided, further, That for the purpose of this section a notice of sale to the vendor, commonly known as "confirmation slip," shall be considered as a bill or memorandum of sale.
Effect of failure to stamp taxable document.
SEC. 238. Effect of failure to stamp taxable document. — An instrument, document, or paper which is required by law to be stamped and which has been signed, issued, accepted, or transferred without being duly stamped, shall not be recorded, nor shall it or any copy thereof or any record of transfer of the same be admitted or used in evidence in any court until the requisite stamp or stamps shall have been affixed thereto and cancelled No notary public or other officer authorized to administer oaths shall add his jurat or acknowledgment to any document subject to documentary stamp tax unless the proper documentary stamps are affixed thereto and canceled.
Failure to affix or cancel documentary stamps.
SEC. 239. Failure to affix or cancel documentary stamps. — Any person who fails to affix the correct amount of documentary stamps to any taxable document, instrument, or paper, or to cancel in the manner prescribed in section 237 any documentary stamp affixed to any document, instrument, or paper, shall be subject to a fine of not less than twenty pesos nor more than three hundred pesos.
SEC. 240. Falsification, or counterfeiting, restoration, or alteration of documentary stamps; possession or use of false, counterfeit, restored, or altered stamps. — Any person who makes, sells, or uses any false, counterfeit, restored, or altered documentary stamps, or makes, sells, or uses any die for printing or making stamps which are in imitation of or purport to be a lawful stamp or die of the kind required by the provisions of this Title, or who erases the cancellation marks or any stamp previously used, or who alters the written or printed figures or letters or cancellation marks on any stamp previously used, or who has in his possession any such false, counterfeit, restored, or altered stamp or die for the purpose of using the same in the payment of internal-revenue tax or in securing any exemption or privilege conferred by this Code, or who procures the commission of any such offense by another, shall for each offense be fined in a sum not less than three hundred pesos nor more than five thousand pesos and imprisoned for a term not less than three months nor more than five years.
Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).
