Title
Amendments to National Internal Revenue Code
Law
Republic Act No. 567
Decision Date
Aug 31, 1950
The Amendment to the National Internal Revenue Code in the Philippines introduces changes to the stamp tax rates for certificates of stock, sales of securities, warehouse and hotel receipts, passage tickets, mortgages, and deeds of sale and conveyances of real property, with the new rates in effect until December 31, 1952.
A

Q&A (Republic Act No. 567)

A documentary stamp tax of ten centavos on each two hundred pesos, or fractional part thereof, of the par value of such bonds, due-bills, certificates of obligation, or stock.

No, only one tax shall be collected on each sale or transfer of stock or securities from one person to another regardless of further issuance or delivery of certificates.

Thirty centavos on each warehouse receipt for property held in storage, with an exemption if the value does not exceed two hundred pesos per person in a calendar month.

Tax rates vary based on the cost of passage, ranging from seven pesos and fifty centavos for tickets costing not more than sixty pesos, up to one hundred pesos for tickets costing more than one thousand pesos.

One peso and fifty centavos for mortgages amounting to more than one thousand pesos but not exceeding three thousand pesos, plus an additional one peso and fifty centavos for each three thousand pesos or fractional part thereof in excess of three thousand pesos.

It is based on the amount actually loaned or given at the time of execution, with additional tax payable on subsequent advances computed at the prescribed rates.

Seventy-five centavos on the consideration exceeding two hundred pesos and not exceeding one thousand pesos, plus three pesos for each additional one thousand pesos or fractional part thereof in excess of one thousand pesos.


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