Law Summary
DST on Original Issue of Shares of Stock
- Documentary stamp tax of PHP 2.00 per PHP 200 or fractional part of par value.
- For shares without par value, DST based on actual consideration.
- For stock dividends, based on actual value represented by each share.
- DST rate increased from PHP 1.00 to PHP 2.00 per PHP 200.
DST on Sales, Agreements to Sell, and Transfer of Shares or Stock Certificates
- DST of PHP 1.50 per PHP 200 or fractional part of par value on sales, agreements, memoranda, deliveries, or transfers.
- Only one DST is collected per sale or transfer regardless of number of instruments issued.
- For stocks without par value, DST equals 50% of DST paid on original issue.
- Rate increased from PHP 0.75 to PHP 1.50 per PHP 200.
DST on Certificates of Profits or Interest in Property or Accumulations
- DST of PHP 1.00 per PHP 200 or fractional part of face value.
- Rate increased from PHP 0.50 to PHP 1.00.
DST on Bank Checks, Drafts, and Certificates of Deposit Not Bearing Interest
- DST of PHP 3.00 on each such instrument.
- Rate increased from PHP 1.50 to PHP 3.00.
DST on All Debt Instruments
- DST of PHP 1.50 per PHP 200 or fractional part of issue price.
- Pro-rated DST for instruments with terms less than one year.
- Only one DST imposed on either loan agreement or promissory notes securing the loan.
- Rate increased from PHP 1.00 to PHP 1.50 per PHP 200.
DST on Bills of Exchange or Drafts
- DST of PHP 0.60 per PHP 200 or fractional part of face value for bills between points within the Philippines.
- Rate increased from PHP 0.30 to PHP 0.60.
DST on Acceptance of Bills of Exchange and Related Instruments
- DST of PHP 0.60 per PHP 200 or fractional part on acceptance of foreign-drawn bills payable in the Philippines.
- Applies also to Philippine equivalent if expressed in foreign currency.
- Rate increased from PHP 0.30 to PHP 0.60.
DST on Foreign Bills of Exchange and Letters of Credit
- DST of PHP 0.60 per PHP 200 or fractional part on foreign bills or letters of credit drawn in but payable outside the Philippines.
- Rate increased from PHP 0.30 to PHP 0.60.
DST on Life Insurance Policies
- One-time DST imposed based on amount insured:
- Exempt if amount ≤ PHP 100,000.
- PHP 20 for > PHP 100,000 to PHP 300,000.
- PHP 50 for > PHP 300,000 to PHP 500,000.
- PHP 100 for > PHP 500,000 to PHP 750,000.
- PHP 150 for > PHP 750,000 to PHP 1,000,000.
- PHP 200 for amounts > PHP 1,000,000.
- Rates doubled from previous amounts.
DST on Policies of Annuities and Pre-Need Plans
- Annuities: PHP 1.00 per PHP 200 or fractional part of premium collected (up from PHP 0.50).
- Pre-need plans: PHP 0.40 per PHP 200 or fractional part (up from PHP 0.20).
DST on Certificates
- DST of PHP 30.00 on each certificate (e.g., damage certificates, notary certificates).
- Rate increased from PHP 15.00.
DST on Warehouse Receipts
- DST of PHP 30.00 per receipt for property stored publicly or privately.
- Exemption if value does not exceed PHP 200 for one person in a month.
- Rate increased from PHP 15.00.
DST on Jai-Alai, Horse Race, Lotto, or Other Authorized Numbers Games Tickets
- Basic DST of PHP 0.20 per ticket (up from PHP 0.10).
- Additional DST of PHP 0.20 for every PHP 1.00 or fractional part thereof if ticket cost exceeds PHP 1.00 (up from PHP 0.10).
DST on Bills of Lading or Receipts
- DST of PHP 2.00 if value of goods is > PHP 100 but ≤ PHP 1,000 (up from PHP 1.00).
- DST of PHP 20.00 if value exceeds PHP 1,000 (up from PHP 10.00).
- Freight tickets for accompanied baggage on land and water carriers are exempt.
DST on Proxies
- DST of PHP 30.00 on proxies for voting at elections or other purposes (except for religious, charitable, literary associations).
- Rate increased from PHP 15.00.
DST on Powers of Attorney
- DST of PHP 10.00 on each power of attorney except those for government claim collections.
- Rate increased from PHP 5.00.
DST on Leases and Other Hiring Agreements
- DST of PHP 6.00 for first PHP 2,000 or fractional part thereof, plus PHP 2.00 for every additional PHP 1,000 or fraction thereof per year.
- Increased from PHP 3.00 plus PHP 1.00 respectively.
DST on Mortgages, Pledges, and Deeds of Trust
- DST of PHP 40.00 for amount secured up to PHP 5,000.
- Additional PHP 20.00 per PHP 5,000 or fraction thereof exceeding PHP 5,000.
- Rates doubled from PHP 20.00 and PHP 10.00 respectively.
DST on Deeds of Sale, Conveyances, and Donations of Real Property
- DST based on higher of contracted consideration or fair market value.
- PHP 15.00 for value up to PHP 1,000; PHP 15.00 for each additional PHP 1,000 or fractional part.
- Donations now subject to DST except those exempt under donor's tax law for:
- Gifts to government entities not for profit.
- Gifts to educational, charitable, religious, cultural, or social welfare organizations (with conditions on administration costs).
- Proper tax collectible upon determination if consideration understated.
DST on Charter Parties and Similar Instruments
- DST rates increased substantially based on registered gross tonnage and charter duration.
- Examples:
- Up to 1,000 tons, six months: PHP 1,000; additional PHP 100/month beyond.
- 1,001 to 10,000 tons, six months: PHP 2,000; additional PHP 200/month.
- Over 10,000 tons, six months: PHP 3,000; additional PHP 300/month.
Repealing Clause
- All inconsistent rules and regulations are repealed, amended, or modified accordingly.
Separability Clause
- If any provision is invalid or unconstitutional, remaining provisions stay effective.
Effectivity
- Regulations take effect 15 days after publication in the Official Gazette or newspaper of general circulation, whichever is earlier.