Question & AnswerQ&A (BIR REVENUE REGULATIONS NO. 5-97)
The scope of BIR Revenue Regulations No. 5-97 is to prescribe the new procedures on the manner of purchase and affixture of documentary stamps upon taxable documents/transactions pursuant to Sections 4 and 245 in relation to Section 200 of the National Internal Revenue Code, as amended.
Any person may purchase loose documentary stamps not exceeding P200.00 for future application upon taxable documents/transactions from Revenue Collections Officers.
Loose documentary stamps are allowed to be used only when the amount of documentary stamp tax due on a taxable document/transaction does not exceed P10.
Cancellation must be done by writing two lines across the stamp and portion of the document to which it is affixed, and indicating the date of affixture by perforation to render the stamp unreusable.
Any person may at any one time purchase documentary stamps for constructive affixture if the documentary stamp tax due is P10 or more. In lieu of actual stamps, a duplicate or certified xerox copy of proof of payment may be affixed. Advance purchase of documentary stamps under this system is not allowed.
Only persons authorized to use BIR Registered Metering Machines under Revenue Regulations No. 7-92, dated September 7, 1992, are allowed to purchase documentary stamps for future applications not covered by Sections 2 and 3 of these regulations.
Persons liable to pay documentary stamp tax on taxable documents/transactions when the tax due amounts to more than P200 are required to file the declaration with the Authorized Agent Bank or Revenue Collection Officer/City or Municipal Treasurer where no AAB exists.
The officer must accomplish and file a DST Declaration within five days after each week showing the amount of documentary stamps sold, and pay the amount collected to any Authorized Agent Bank using the dummy TIN of his/her RDO. They must also accomplish General Form 16A.
Violations of these regulations shall be penalized under the pertinent provisions of the National Internal Revenue Code, as amended.
These regulations took effect fifteen (15) days after publication in the Official Gazette or any newspaper of general circulation, whichever came first.