DOCUMENT The Supreme Court defined a document as a deed, instrument or other duly authorized paper by which something is proved,

evidenced or set forth. As used in the evised !enal Code, it is any written instrument by which a right is established and an obligation e"tinguished.

DOCUMENTARY STAMP TAX The documentary stamp ta" is an e"cise upon the privilege, opportunity or facility offered in the e"changes for the transaction of the business. #t is an e"cise upon the facility used in the transaction of the business separate and apart from the business itself.

THE DOCUMENTARY STAMP TAX IS A LEVY ON THE DOCUMENT The documentary stamp ta" is levied on the document and not on the property which is described therein. $ut the documentary stamp ta" is not ta" on the document alone. The law ta"es document because of the transaction. The documentary stamp ta" is substantially a ta" on the transaction rather than the document. WHEN DOCUMENT STAMP TAXES DUE AND PAYABLE? %ocumentary stamp ta"es are due and payable at the time the transaction is had or accomplished &i.e., at the time of the issuance of the document'. $ut the rule is well(settled that the stamp ta" may be paid at any time either before or at the time the documents are presented in evidence. This is, however, without pre)udice to criminal action.

DOCUMENTARY REQUIREMENTS: !hotocopy of document&s' to which the documentary stamp ta" shall be affi"ed, in case constructive affi"ture of documentary stamp ta"* +or meeting machine users, a schedule of the details of usage assumption of documentary stamp* !roof of e"emption under special law, if applicable* %uly approved ta" debit memo, if applicable*

Tax code Sect o! ,-.

Doc"#e!t

Taxable Unit

Tax d"e $e% U! t !,.10

& o' U! t

Taxa()e (a*e

Debentures !/00 or and fraction certificates of thereof indebtedness

3riginal issue of shares of stoc4 without par value /00 or fraction thereof /00 or fraction thereof based on actual consideration

.-12

Face Value of document

!ar value of shares of stoc4s actual consideration for the issuance of shares of stoc4s

,-1

2.00 2.00

,2 ,2

,-5

Sales, Agreements to sell, memoranda of sale, deliveries or transfer of due bills, certificate of obligation, or shares or certificates of stoc4

/00 or fraction thereof

,.10

.-12

!ar value of such due(bills, certificate of obligation or stoc4s

+,,

Bo!d*011 o% de(e!t"%e*- '%act o! ce%t ' cate t2e%eo' o' *toc. o% !de(ted!e* * **"ed ! 'o%e /! co"!t% e*

+341

.75%

Par value of such bonds, debentures or certificate of stocks

,-6

Certificate of 200 profits or fraction interest in thereof property or accumulation

Banks checks, 3n each drafts, certificate document of deposit not bearin interest and other instruments

or .10

.25%

+ace value of such certificate7me morandum

,-8

!.50

+51

Bonds, Loans Agree ents, Pro issor! "otes, Bills of #xchange, $rafts,, %nstru ents and &ecurities issued b! the gov't or an! of its instru entalities, $e(osit substitutes of $ebt %nstru ent, )ertificates of de(osit bearing interest and others not (a!able on sight or de and *exce(t loan agree ent or (ro issor! notes exceeding P+5,,,,,.,, for (ersonal use or fa il! use-

011 o% '%act o! t2e%eo'

..,

3+4&

/ace value of the instru ent0 docu ent

PROCEDURES +ile $# 9o. /000 in triplicate &two copies for the $# and one copy for the ta"payer' with the Authorized Agent ban4 &AA$' in the evenue %istrict where the seller or transferor is registered, for shares of stoc4s or where the property is located, for real property. #n places where there are no AA$, the return will be filed directly with the evenue Collection 3fficer or Authorized City or :unicipal Treasurer. Submit all documentary re;uirements and proof of payment to the evenue %istrict 3ffice having )urisdiction over the place of residence of the seller.

IMPLICATION O6 6AILURE TO STAMP TAXABLE DOCUMENT

The unta"ed 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 re;uisite stamp or stamps have been affi"ed thereto and cancelled. 9o 9otary !ublic or other officer authorized to administer oaths will add his )urat or ac4nowledgement to any document sub)ect to documentary stamp ta" unless the proper documentary stamp are affi"ed and cancelled.

Ce%t ' cate o' de$o* t is a written ac4nowledgement by a ban4 or ban4er of the receipt of a sum of money on deposit which the ban4 or ban4er promises to pay to the depositor, to the order of the depositor, or to some other person or his order, whereby the relation of debtor and creditor between the ban4 and the depositor is created.

Co#$a% *o! o' Re/")a% Sa7 !/* Acco"!t- t #e de$o* t a!d S$ec a)8S"$e% Sa7 !/* De$o* t Acco"!t 9SSDA:
Sa7 !/* Acco"!t egular Savings interest 9one $assbook T #e De$o* t

SSDA

I!te%e*t Rate Pe% od #videnced b!

<igher #nterest ate

<igher #nterest ate

Fi"ed #erm
Certificate of #ime Deposit

Fi"ed #erm
$assbook

Pre1ter ination 2olding Period

3ithdra4al

%one %one
(llo)ed

&ith penalty 'es

&ithdra)al amounts to pre* termination

&ith penalty 'es

(llo)ed pro+ided that the minimum amount earn the hi her interest rate is maintained, other)ise, the re ular sa+in s interest rate )ill apply

Section 179. Stamp Tax on all Debts Instruments. = 3n every original issue of debt instruments, there shall be collected a documentary stamp ta" """". The term debt instrument shall mean instruments representing borrowing and lending transactions including but not limited to debentures, certificates of indebtedness, due bills, bonds, loan agreements, """, certificates or other evidences of deposits that are either drawing interest significantly higher than the regular savings deposit ta4ing into consideration the size of the deposit and the ris4s involved or drawing interest and having a specific maturity date, """.

Than4 you>
Amerah !anumpang Acmalin S. :acabantog ?ohairah A. $olug 9orhanie %iang4a Sittie Al(hadya %elawi