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 eight
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 sixteen centavos on
each two hundred pesos or fractional part thereof, of the amount insured by any
such policy.
Stamp tax on-warehouse, motel and hotel receipts and others.
SEC. 226. Stamp tax on-warehouse, motel and hotel
receipts and others. —
(a) 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
thirty 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.
(b) On each hotel receipt issued by keepers of hotels, motels, resthouses,
lodging houses or resorts to a guest for lodging, there shall be collected a
documentary stamp tax of one peso: Provided, however, That if the amount of the
receipt exceeds twenty pesos an additional tax of one peso on each twenty pesos
or fractional part thereof shall be collected.
Stamp tax on Jai-Alai or horse race tickets.
SEC. 226-A. Stamp tax on Jai-Alai or horse race
tickets. — On each Jai-Alai or horse race ticket, there shall be collected
a documentary stamp tax of five centavos: Provided, That if the cost of the
ticket exceeds one peso, an additional tax of five centavos on every one peso or
fractional part thereof shall be collected.
Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).
