Section 21
Sec. 21. Section 197 of the National Internal Revenue Code, as amended, is hereby further amended to read as follows: "Sec. 197. 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 such 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 one thousand tons, and the duration of the charter or contract does not exceed six months, Five hundred pesos (P500.00); and for each month or fraction of a month in excess of six months, an additional tax of Fifty pesos (P50.00) shall be paid. "(b) If the registered gross tonnage exceeds one thousand tons and does not exceed ten thousand tons, and the duration of the charter or contract does not exceed six months, One thousand pesos (P1,000.00); and for each month or fraction of a month in excess of six months, an additional tax of One hundred pesos (P100.00) shall be paid. "(c) If the registered gross tonnage exceeds ten thousand tons and the duration of the charter or contract does not exceed six months, One thousand five hundred pesos (P1,500.00); and for each month or fraction of a month in excess of six months, an additional tax of One hundred fifty pesos (P150) shall be paid."