Question & AnswerQ&A (BIR REVENUE MEMORANDUM CIRCULAR NO. 25 - 2008)
The circular discusses the imposition of Documentary Stamp Tax (DST) on certificates issued by educational institutions.
It implements Section 188 of the National Internal Revenue Code (NIRC).
If exempt, the educational institution shall remit the tax as a collecting agent pursuant to the regulations.
Even if the entity is exempt, it must remit the tax as a collecting agent according to the prescribed regulations.
They are enjoined to give the circular as wide publicity as possible to ensure compliance and awareness.
Title VII of the National Internal Revenue Code covers the Documentary Stamp Tax.
The circular was adopted on March 17, 2008.
Lilian B. Hefti, Commissioner of Internal Revenue, signed the circular.