Doc Stamp Tax on Stock Issuance

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BIR REVENUE MEMORANDUM CIRCULAR NO. 47-97: Doc Stamp Tax on Stock Issuance

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Title Source: Supreme Court: Doc Stamp Tax on Stock Issuance

Law: Bir Revenue Memorandum Circular No. 47-97

Decision Date: Nov 12, 1997

The BIR Revenue Memorandum Circular No. 47-97 mandates that documentary stamp taxes on original issues of stock certificates are due upon acceptance of a stockholder's subscription, regardless of the physical issuance of the certificate, emphasizing that ownership rights and tax obligations arise simultaneously.

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