Section 40
SEC. 40. Section 245 of this Code, as amended, is hereby further amended to read as follows: "Sec. 245. Stamp tax on deed of sale and conveyance of real property.—On all conveyance, deeds, instruments, or writing, other than grants, patents, or original certificates of adjudication issued by the Government, whereby any lands, tenements or other realty 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: one port or place in the Philippines to another port or place in the Philippines (except on ferries across rivers) or to any foreign port, there shall be collected a documentary stamp tax in accordance with the following schedule: If the value of goods: Exceeds P100 but does not exceed P.1,000 P .50 Exceeds P1.000 but does not exceed P10,000 1.00 Exceeds P10,000 3.00 Provided, however, That freight tickets covering goods, merchandise, or effects carried as accompanied baggage of passengers on land and water carriers primarily engaged in the transportation of passengers are hereby exempt."