Exempts DST on Stock Exchange Shares Sale

Section 1 amends Section 199 of the National Internal Revenue Code of 1997 (NIRC of 1997), as amended by Republic Act No. 9243.
Section 1 requires that, notwithstanding Section 173, the specified instruments are exempt from documentary stamp tax.
Section 1 adds/affirms an exemption for: “Sale, barter or exchange of shares of stock listed and traded through the local stock exchange.”
Section 1 limits the exemption to transactions involving shares of stock that are listed and traded through the local stock exchange.

Section 1 exempts from documentary stamp tax any sale of qualifying shares of stock.
Section 1 exempts from documentary stamp tax any barter of qualifying shares of stock.
Section 1 exempts from documentary stamp tax any exchange of qualifying shares of stock.
Section 1 applies the exemption when the shares are listed and traded through the local stock exchange.

Section 2 directs the Secretary of Finance to promulgate and publish the necessary rules and regulations for the effective enforcement of Republic Act No. 9648.
Section 2 makes enforcement of the Act dependent on issuance of implementing regulations.

Section 3 provides that if any provision of Republic Act No. 9648 is held unconstitutional or invalid, all other provisions not affected by the invalidity remain valid.

Section 4 repeals, amends, or modifies any laws, decrees, executive orders, rules and regulations, or parts thereof that are inconsistent with Republic Act No. 9648.