Stamp Tax on Bonds, Debentures, and Certificates of Indebtedness
- Imposes a tax of ₱1.50 for every ₱200 or fractional part of the face value.
Stamp Tax on Original Issue of Certificates of Stock
- Tax of ₱2.00 for every ₱200 or fractional part of par value.
- For stocks without par value, tax based on actual consideration received.
- Stock dividends taxed on actual value.
Stamp Tax on Sales, Transfers, and Agreements of Stocks and Securities
- Tax of ₱1.00 per ₱200 or fractional part of par value, increasing to ₱1.50 in 1996.
- Only one tax per sale or transfer regardless of certificate endorsement.
- Stocks without par value: tax equivalent to 25% of original issue tax.
Stamp Tax on Certificates of Profits or Interests in Property
- Tax of ₱0.50 per ₱200 or fractional part of face value on certificates and transfers.
Stamp Tax on Bank Checks, Drafts, and Certificates of Deposit Not Bearing Interest
- Tax of ₱1.25 per item, increasing to ₱1.50 in 1996.
Stamp Tax on Loan Agreements and Related Instruments
- Tax of ₱0.30 per ₱200 or fractional part on loan agreements, promissory notes, bills of exchange, drafts, instruments, securities issued by the government.
- Only one tax on loan agreement or promissory notes whichever is higher.
- Exemption for installment purchases up to ₱250,000 for personal use.
Stamp Tax on Insurance Policies
- Property insurance premiums taxed at ₱0.50 per ₱4 or fractional part.
- No tax on reinsurance contracts.
- Fidelity and other specified insurance policies also taxed at ₱0.50 per ₱4.
Stamp Tax on Annuities and Pre-Need Plans
- Annuities taxed at ₱1.50 per ₱200 or fractional part of capital.
- If capital unknown, basis is 33 1/3 times annual income.
- Pre-need plans taxed at ₱0.50 per ₱500 or fractional part.
Stamp Tax on Indemnity Bonds
- Tax set at ₱0.10 per ₱4 or fractional part, rising to ₱0.30 in 1996.
Stamp Tax on Certificates Issued by Officials
- Fixed tax of ₱10 per certificate, increasing to ₱15 in 1996.
Stamp Tax on Warehouse Receipts
- Tax of ₱10 per receipt, increasing to ₱15 in 1996.
- No tax if value does not exceed ₱200 in a calendar month.
Stamp Tax on Gambling Tickets
- Tax of ₱0.10 per ticket plus additional tax if ticket price exceeds ₱1.
Stamp Tax on Bills of Lading or Receipts
- Tax varies from ₱1 up to ₱10 depending on goods value.
- Exemption for freight tickets covering accompanied baggage.
Stamp Tax on Proxies for Company Elections
- Tax of ₱10 per proxy, increasing to ₱15 in 1996.
- Exempts religious, charitable, literary associations.
Stamp Tax on Powers of Attorney
- Tax of ₱5 per power of attorney.
- Excludes powers related to government claims collection.
Stamp Tax on Leases and Hiring Agreements
- Initial tax of ₱3 for first ₱2,000 value; ₱1 for each additional ₱1,000 or fraction per year.
Stamp Tax on Mortgages, Pledges, and Deeds of Trust
- ₱20 if amount secured ≤ ₱5,000; ₱10 for each additional ₱5,000 or fraction.
- Tax computed on amount loaned at execution time.
- Additional tax on subsequent advances.
Stamp Tax on Deeds of Sale and Conveyance of Real Property
- ₱15 for consideration/value up to ₱1,000; ₱15 additional for each additional ₱1,000 or fraction.
- True market value may be assessed if under-declared.
Stamp Tax on Charter Parties and Similar Instruments
- Tax rates based on vessel gross tonnage and duration.
- Base taxes: ₱500, ₱1,000, ₱1,500; with monthly increments for contracts over six months.
Allocation of Incremental Revenues
- 1994-1995: 25% to Unified Home-Lending Program for socialized housing, community mortgage, and land development.
- 1996 onwards: 25% to National Health Insurance Program.
- 25% annually to Special Education Fund for education facilities and resources.
- 50% annually to Special Infrastructure Fund for public works and development projects.
- Specific percentages allocated to depressed provinces with equity-based disbursement.
- Administrative expenses capped at 1% of allocated funds.
Implementation and Effectivity
- Secretary of Finance to issue rules and regulations upon recommendation.
- Repeals inconsistent laws.
- Severability clause applies.
- Law effective 15 days after publication in official or national newspapers.