Description

Documentary Stamp Tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or
transfer of an obligation, right or property incident thereto.

Tax Form

BIR Form 2000 (Documentary Stamp Tax Declaration Return)

Documentary Requirements

1) Photocopy of document(s) to which the documentary stamp shall be affixed, in case of constructive affixture of Documentary Stamp
Tax

2) For metering machine users, a schedule of the details of usage or consumption of documentary stamp

3) Proof of exemption under special law, if applicable

4) Duly approved Tax Debit Memo, if applicable

Tax Rates

Tax Code Section Document Taxable Unit Tax Due Per Unit % of Unit Taxable Base
Debentures and
P200.00 or Face value of
174 Certificates of P1.50 .75%
fraction thereof Document
Indebtedness
Original Issue of P200.00 or
Shares of Stock with fraction thereof Par value of shares of
par value 2.00 1% stocks actual
175 P200.00 or consideration for the
Original Issue of fraction thereof 2.00 1% issuance of shares of
Shares of Stock based on actual stocks
without par value consideration
Sales, Agreements to
Sell, Memoranda of
Sales, Deliveries or Par value of such due-
P200.00 or
176 Transfer of Due-bills, 1.50 .75% bills, certificate of
fraction thereof
Certificate of obligation or stocks
Obligation, or Shares
or Certificates of Stock
Bonds, Debentures,
Par value of such
Certificate of Stock or P200.00 or
177 1.50 .75% bonds, debentures or
Indebtedness issued in fraction thereof
Certificate of Stocks
foreign Countries
Certificate of Profits or Face value of such
P200.00 or
178 Interest in Property or .50 .25% certificate /
fraction thereof
Accumulation memorandum
Bank Checks, Drafts,
Certificate of Deposit
On each
179 not bearing interest 1.50
Document
and other
Instruments
180 Bonds, Loan P200.00 or .30 .15% Face value of the
Agreements, fraction thereof instrument/document
 Promissory Notes, Bills
of Exchange, Drafts,
Instruments and
Securities Issued by
the Government or
any of its
Instrumentalities,
Deposit Substitutes
Debt Instrument,
Certificates of Deposit
bearing interest and
others not payable on
sight or demand
(except loan
agreement or
promissory notes
exceeding
P250,000.00 for
personal use or family
use)
Face value of such bill
Bills of Exchange or of exchange or order
order drawn in foreign P200.00 or or the equivalent of
181 .30 .15%
country but payable in fraction thereof such value, if
the Philippines expressed in foreign
currency
Face value of such bill
of exchange or order
Foreign Bills of
P200.00 or or the equivalent of
182 Exchange and Letter .30 .15%
fraction thereof such value, if
of Credit
expressed in foreign
currency
P200.00 or Amount Insured by
183 Life Insurance Policies .50 .25%
fraction thereof the Policy
P4.00 premium
Policies Of Insurance
184 or fraction .50 12.5% Premium charged
upon Property
thereof
Fidelity Bonds and P4.00 premium
185 other Insurance or fraction .50 12.5% Premium charged
Policies thereof
Capital of annuity, or
Policies of Annuities,
P200.00 or if unknown 33 1/3
186 Annuity or other 1.50 75%
fraction thereof times the annual
instruments
income
P500.00 or Value or amount of
186 Pre-Need Plans .50 .10%
fraction thereof the Plan
P4.00 or fraction
187 Indemnity Bonds .30 7.5% Premium charged
thereof
Certificates of Damage
or otherwise and
Certificate or
document issued by
any customs officers,
188 marine surveyor, Each Certificate 15.00
notary public and
certificate required by
law or by rules and
regulations of a public
office
Warehouse Receipts
189 (except if value does Each Receipt 15.00
not exceed P200.00)
190 Jai-alai, Horse Race P1.00 cost of .10 10% Cost of the ticket
Tickets, lotto or Other ticket and
Authorized Number
Games
Additional P0.10
on every P1.00
or fraction
thereof if cost of
ticket exceeds
 P1.00
Bills of Lading or
Receipts
191 Each Proxy 15.00

(except charter party)

193 Powers of Attorney Each Document 5.00
First 2,000

Lease and other Hiring

agreements of For every P1,000
memorandum or or fractional part 3.00 1.5%
194 contract for hire, use thereof in excess
or rent of any land or of the first
1.00 1%
tenements or portions P2,000 for each
thereof year of the term
of the contract or
agreement
First 5,000
Mortgages Pledges of 20.00 .4% Amount Secured
lands, estate, or On each P5,000
195
property and Deeds of or fractional part
Trust 10.00 .2% Amount Secured
thereof in excess
of 5,000

Deed of Sale, First 1,000

Consideration or Fair
instrument or writing
15.00 1.5% Market Value,
and Conveyances of For each whichever is higher (if
196 Real Property (except additional P1,000 government is a
grants, patents or or fractional part 15.00 1.5% party, basis shall be
original certificate of thereof in excess the consideration)
the government) of P1,000
1,000 tons and P500.00 for the first 6 months
below PlusP50 each month or
fraction thereof in excess of 6
months

P1,000 for the first 6 months

Plus P100 each month or
fraction thereof in excess of 6
months

Charter parties and

197 1,001 to 10,000
Similar Instruments P1,500 for the first 6 months
tons
Plus P150 each month or
fraction thereof in excess of 6
months

Over 10,000 tons

Procedures

File BIR Form No. 2000 in triplicate (two copies for the BIR and one copy for the taxpayer) with the Authorized Agent Bank (AAB) in the
Revenue District where the seller or transferor is registered, for shares of stocks or where the property is located, for real property. In
places where there are no AAB, the return will be filed directly with the Revenue Collection Officer or Authorized City or Municipal
Treasurer.
Submit all documentary requirements and proof of payment to the Revenue District Office having jurisdiction over the place of residence
of the seller.

Deadlines

The Documentary Stamp Tax return (BIR Form 2000) shall be filed in triplicate (two copies for the BIR and one copy for
the taxpayer) within five (5) days after the close of the month when the taxable document was made signed, issued,
accepted or transferred; when reloading a metering machine becomes necessary; or upon remittance by Collection
Agents of collection from sale of loose stamps. The Documentary Stamp Tax shall be paid upon filing of the return.

Related Revenue Issuances

RR No. 6-2001, RMO No. 8-98, RMO No. 15-2001

Codal Reference

Sec. 173 to Sec. 201 of the National Internal Revenue Code

Frequently Asked Questions

1) Who are required to file Documentary Stamp Tax Declaration Return?

a) In case of constructive affixture of documentary stamps, by the persons making, signing, issuing, accepting or transferring documents,
instruments, loan agreements and papers, acceptances, assignments, sales and conveyances of the obligation, right or property incident
thereto 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 at the same time such act is done or transaction had;

b) By metering machine user who imprints the Documentary Stamp Tax due on the taxable documents; and

c) By Revenue Collection Agent, for remittance of sold loose documentary stamps.

Note: Wherever one party to the taxable document enjoys exemption from the tax imposed, the other party who is not exempt will be the
one directly liable to file Documentary Stamp Tax Declaration and pay the applicable stamp tax.

2) Where is the Documentary Stamp Tax Declaration Return filed?

In the Authorized Agent Bank (AAB) within the territorial jurisdiction of the RDO which has jurisdiction over the residence or principal
place of business of the taxpayer or where the property is located in case of sale of real property or where the Collection Agent is
assigned. In places where there is no Authorized Agent Bank, the return will be filed with the Revenue Collection Officer or duly
authorized City or Municipal Treasurer where the taxpayer's residence or principal place of business is located or where the property is
located in case of sale of real property or where the Collection Agent is assigned.

3) What are the documents/papers not subject to Documentary Stamp Tax?

 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 each member and not for profit
Certificates of oaths administered by any government official in his official capacity or acknowledgement by any government
official in performance of his official duty
Written appearance 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 court by or for 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 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
Certified copies and other certificates placed upon documents, instruments and papers for the national, provincial, city or
municipal governments made at the instance and for the sole use of some other branch of the national, provincial, city or
municipal governments
Certificates of the assessed value of lands, not exceeding P200 in value assessed, furnished by the provincial, city or municipal
Treasurer to applicants for registration of title to land

4) What are the implications of failure to stamp taxable documents?

The untaxed document will not be recorded, nor will it or any copy thereof or any record of transfer of the same be admitted or
used in evidence in court until the requisite stamp or stamps have been affixed thereto and cancelled
No notary public or other officer authorized to administer oaths will add his jurat or acknowledgment to any document subject to
Documentary Stamp Tax unless the proper documentary stamps are affixed thereto and cancelled.

BIR Form No. 2000-OT

Documentary Stamp Tax Declaration/Return (One Time Transactions)

Description

This return shall be filed in triplicate by the following person making, signing, issuing, accepting or
transferring the document or facility evidencing transaction:

1. Every natural or juridical person, resident or non-resident, for sale, barter, exchange or other onerous
disposition of shares of stock in a domestic corporation, classified as capital asset, not traded in the local
stock exchange;

2. Every withholding agent/buyer/seller on the sale, transfer or exchange of real property classified as capital
asset. The "sale" includes pacto de retro sale and other forms of conditional sale; and

3. Every withholding agent/buyer/seller on the sale, transfer or exchange of real property classified as
ordinary asset.

Filing Date

The return shall be filed and the tax paid within (5) days after the close of the month when the taxable
document was made, signed, issued, accepted or transferred.

BIR Form No. 2000

Documentary Stamps Tax Declaration/ Return

Description

This return is filed by the following:

1. In the case of constructive affixture of documentary stamps, by the person making, signing, issuing,
accepting, or transferring documents, instruments, loan agreements and papers, acceptances, assignments,
sales and conveyances of the obligation, right or property incident thereto 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 at the same time such act is done or transaction had;
2. by a metering machine user who imprints the documentary stamp tax due on the taxable document; and
3. by a revenue collection agent for remittance of sold loose documentary stamps.

Whenever one party to the taxable document enjoys exemption from the tax herein imposed, the other party
thereto who is not exempt shall be the one directly liable for the tax.

Filing Date

The return shall be filed within five (5) days after the close of the month when the taxable document was
made, signed, issued, accepted or transferred or when reloading a metering machine becomes necessary or
upon remittance by revenue collection agents of collection from the sale of loose stamps.

For EFPS Taxpayer

The deadline for eletronically filing and paying the taxes due thereon shall be in accordance with the
provisions of existing applicable revenue issuances.

TITLE VII DOCUMENTARY STAMP TAX

SEC. 173. Stamp Taxes Upon Documents, Loan Agreements, Instruments and Papers. - Upon documents,
instruments, loan agreements 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.

SEC. 174. Stamp Tax on Debentures and Certificates of Indebtedness. - 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. - 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.
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. - 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 hundred 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. Stamp Tax on Bonds, Debentures, Certificate 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 as tax as is required by law on
similar instruments when issued, sold or transferred in the Philippines.

SEC. 178. Stamp Tax on Certificates of Profits or Interest in Property or Accumulations. - 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.

SEC. 179. 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 One peso and fifty centavos (P1.50).

SEC. 180. Stamp Tax on All Bonds, Loan Agreements, 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. - 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 and securities issued by the
Government or any of its instrumentalities, deposit substitute debt instruments, certificates of deposits drawing interest,
orders for the payment of 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.

SEC. 181. 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 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 order, or the Philippine equivalent to
such value, if expressed in foreign currency.

SEC. 182. 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 (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.
SEC. 183. 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 Fifty centavos (P0.50) on each Two hundred pesos (P200), or fractional part thereof, of the
amount insured by any such policy.

SEC. 184. 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 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 reinsurance agreement is effected or
recorded.

SEC. 185. 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, employers 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 made or renewed by any
such person, company or corporation, 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 premium charged.

SEC. 186. Stamp Tax on Policies of Annuities and Pre-Need Plans. - 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 fractional part
thereof, of the value or amount of the plan.

SEC. 187. 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 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
the premium charged.

SEC. 188. Stamp Tax on Certificates. - On each certificate of damages or otherwise, and on every 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 Fifteen pesos (P15.00).

SEC. 189. Stamp Tax on Warehouse Receipts. - On each warehouse receipt for property held in storage in a public or
private warehouse or yard for any person other than the proprietor of such warehouse or yard, there shall be collected a
documentary stamp tax of Fifteen pesos (P15.00): 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 (P200).

SEC. 190. Stamp Tax on Jai-Alai, Horse Racing Tickets, lotto or Other Authorized Numbers Games. - On each
jai-alai, horse race ticket, lotto, or other authorized number games, there shall be collected a documentary stamp tax of
Ten centavos (P0.10): Provided, That if the cost of the ticket exceeds One peso (P1.00), an additional tax of Ten centavos
(P0.10) on every One peso (P1.00, or fractional part thereof, shall be collected.
SEC. 191. 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 (except on ferries across rivers), or to any foreign port, there shall be collected documentary stamp tax of One
peso (P1.00), if the value of such goods exceeds One hundred pesos (P100) and does not exceed One Thousand pesos
(P1,000); Ten pesos (P10), if the value exceeds One thousand pesos (P1,000): 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.

SEC. 192. 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 Fifteen pesos (P15.00).

SEC. 193. 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 Republic of the Philippines, or
the government of any province, city or municipality, there shall be collected a documentary stamp tax of Five pesos
(P5.00).

SEC. 194. Stamp tax on Leases and Other Hiring Agreements. - On each lease, agreement, memorandum, or
contract for hire, use or rent of any lands or tenements, or portions thereof, there shall be collected a documentary stamp
tax of Three pesos (P3.00) for the first Two thousand pesos (P2,000), or fractional part thereof, and an additional One
peso (P1.00) for every One Thousand pesos (P1,000) or fractional part thereof, in excess of the first Two thousand pesos
(P2,000) for each year of the term of said contract or agreement.

SEC. 195. 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 of 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 secured does not exceed Five thousand pesos (P5,000), Twenty pesos (P20.00).

(b) On each Five thousand pesos (P5,000), or fractional part thereof in excess of Five thousand pesos (P5,000),
an additional tax of Ten pesos (P10.00).

On any mortgage, pledge, or deed of trust, where the same shall be made as a security for the payment of a fluctuating
account or future advances without fixed limit, the documentary stamp tax on such mortgage, pledge or deed of trust
shall be computed on the amount actually loaned or given at the time of the execution of the mortgage, pledge or deed of
trust, additional documentary stamp tax shall be paid which shall be computed on the basis of the amount advanced or
loaned at the rates specified above: Provided, however, That if the full amount of the loan or credit, granted under the
mortgage, pledge or deed of trust shall be computed on the amount actually loaned or given at the time of the execution
of the mortgage, pledge or deed of trust. However, if subsequent advances are made on such mortgage, pledge or deed
of trust, additional documentary stamp tax shall be paid which shall be computed on the basis of the amount advanced or
loaned at the rates specified above: Provided, however, That if the full amount of the loan or credit, granted under the
mortgage, pledge or deed of trust is specified in such mortgage, pledge or deed of trust, the documentary stamp tax
prescribed in this Section shall be paid and computed on the full amount of the loan or credit granted.

SEC. 196. Stamp tax on Deeds of Sale and Conveyances of Real Property. - On all conveyances, deeds,
instruments, or writings, other than grants, patents or original certificates of adjudication issued by the Government,
whereby any land, tenement, 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 rates herein below prescribed, based on the consideration contracted to be
paid for such realty or on its fair market value determined in accordance with Section 6(E) of this Code, whichever is
higher: Provided, That when one of the contracting parties is the Government the tax herein imposed shall be based on
the actual consideration.

(a) When the consideration, or value received or contracted to be paid for such realty after making proper
allowance of any encumbrance, does not exceed One thousand pesos (P1,000) fifteen pesos (P15.00).
 (b) For each additional One thousand Pesos (P1,000), or fractional part thereof in excess of One thousand pesos
(P1,000) of such consideration or value, Fifteen pesos (P15.00).

When it appears that the amount of the documentary stamp tax payable hereunder has been reduced by an incorrect
statement of the consideration in any conveyance, deed, instrument or writing subject to such tax the Commissioner,
provincial or city Treasurer, or other revenue officer shall, from the assessment rolls or other reliable source of
information, assess the property of its true market value and collect the proper tax thereon.

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 (1,000) tons,
and the duration of the charter or contract does not exceed six (6) months, Five hundred pesos (P500); and for
each month or fraction of a month in excess of six (6) months, an additional tax of Fifty pesos (P50.00) shall be
paid.

(b) If the registered gross tonnage exceeds one thousand (1,000) tons and does not exceed ten thousand
(10,000) tons, and the duration of the charter or contract does not exceed six (6) months, One thousand pesos
(P1,000); and for each month or fraction of a month in excess of six (6) months, an additional tax of One
hundred pesos (P100) shall be paid.

(c) If the registered gross tonnage exceeds ten thousand (10,000) tons and the duration of the charter or
contract does not exceed six (6) months, One thousand five hundred pesos (P1,500); and for each month or
fraction of a month in excess of six (6) months, an additional tax of One hundred fifty pesos (P150) shall be paid.

SEC. 198. 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 any 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.

SEC. 199. Documents and Papers Not Subject to Stamp Tax. - The provisions of Section 173 to the contrary
notwithstanding, the following instruments, documents and papers shall be exempt from the documentary stamp tax:

(a) 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 each member and not for profit.

(b) 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 appearance 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 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 the rules and regulations of 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 they are filed, and not at the instance or for the use or benefit of the person filing them; certified
copies and other certificates placed upon documents, instruments and papers for the national, provincial, city, or
municipal governments, made at the instance and for the sole use of some other branch of the national,
provincial, city or municipal governments; and certificates of the assessed value of lands, not exceeding Two
hundred pesos (P200) in value assessed, furnished by the provincial, city or municipal Treasurer to applicants for
registration of title to land.

SEC. 200. Payment of Documentary Stamp Tax.

(A) In General. - The provisions of Presidential Decree No. 1045 notwithstanding, any person liable to pay documentary
stamp tax upon any document subject to tax under Title VII of this Code shall file a tax return and pay the tax in
accordance with the rules and regulations to be prescribed by the Secretary of Finance, upon recommendation of the
Commissioner.
(B) Time for Filing and Payment of the Tax. - Except as provided by rules and regulations promulgated by the
Secretary of Finance, upon recommendation of the Commissioner, the tax return prescribed in this Section shall be filed
within ten (10) days after the close of the month when the taxable document was made, signed, issued, accepted, or
transferred, and the tax thereon shall be paid at the same time the aforesaid return is filed.

(C) Where to File. - Except in cases where the Commissioner otherwise permits, the aforesaid tax return shall be filed
with and the tax due shall be paid through the authorized agent bank within the territorial jurisdiction of the Revenue
District Office which has jurisdiction over the residence or principal place of business of the taxpayer. In places where
there is no authorized agent bank, the return shall be filed with the Revenue District Officer, collection agent, or duly
authorized Treasurer of the city or municipality in which the taxpayer has his legal residence or principal place of
business.

(D) Exception. - In lieu of the foregoing provisions of this Section, the tax may be paid either through purchase and
actual affixture; or by imprinting the stamps through a documentary stamp metering machine, on the taxable document,
in the manner as may be prescribed by rules and regulations to be promulgated by the Secretary of Finance, upon
recommendation of the Commissioner.

SEC. 201. 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 are affixed thereto and cancelled.