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Documentary Stamp Tax

Revenue Issuances

Registration Requirements

Legal Matters

International Tax Matters

Tax Information

You are here: Home (/index.php) Tax Information (/index.php/tax-information.html) Documentary Stamp Tax

Index for Documentary Stamp Tax:                                                                                                                   

Description
Tax Form
Documentary Requirements
Tax Rates
Procedures
 Related Revenue Issuances     
Codal Reference
Frequently Asked Questions

Description

Documentary Stamp Tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or
transfer of an obligation, right or property incident thereto.

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Tax Forms

BIR Form 2000 (/index.php/bir-forms/documentary-stamp-tax-return.html#dstr2000) (Documentary Stamp Tax Declaration Return);

BIR Form 2000-OT (/index.php/bir-forms/documentary-stamp-tax-return.html#dstr2000ot) Documentary Stamp Tax Declaration Return (One-

Time Transactions)

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Documentary Requirements

Mandatory

1. Photocopy of the document to which the documentary stamp shall be affixed

2. Proof of exemption under special laws, if applicable;
3. Proof of payment of documentary stamp tax paid upon the original issue of the stock, if applicable.

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Tax Rates

Tax Document Taxable Unit Tax Due Per % of Taxable Base

Code Unit Unit
Section

174   Original Issue of Shares of P200.00 or fraction thereof         2.00                       1%  Par value of shares of
Stock with par value                      stocks                              
                              
Original Issue of Shares of        
Stock without par value P200.00 or fraction thereof 2.00 1%  Actual consideration
                                                                  for the issuance of
      shares of stocks            
Stock Dividend     1%           
P200.00 or fraction thereof 2.00                     
Actual value
represented by each
share
175   Sales, Agreements to Sell, P200.00 or fraction thereof        1.50     0.75%       Par value of such stock
Memoranda of Sales, Deliveries           
or Transfer of Shares or             
Certificates of Stock       
            
            
           DST paid upon the
Stock without par value     original issuance of
 50% said stock.

 176   Bonds, Debentures, Certificate of P200.00 or fraction thereof  .75 .375% Par value of such
Stock or Indebtedness issued in bonds, debentures,
foreign Countries  Certificate of Stock or
Indebtedness

 177   Certificate of Profits or Interest in P200.00 or fraction thereof 1.00 .5% Face value of such
Property or Accumulation certificates /
memorandum

178   Bank Checks, Drafts, Certificate of On each Document 3.00    

Deposit not bearing interest   and
other Instruments

179   All Debt Instruments P200.00 or fraction thereof 1.50 .75% Issue price of any such
debt instruments or a
fraction of 365 days for
instrument with term of
less than 1 year

180   All Bills of Exchange or Drafts P200.00 or fraction thereof .60 .3% Face value of any such
bill of exchange or
draft

181   Acceptance of Bills of Exchange or P200.00 or fraction thereof .60 .3% Face value of such
  order for the payment of money bill of exchange or
purporting to be drawn in a   order or the
foreign country but payable in the Philippine equivalent
Philippines of such value, if
expressed in foreign
currency

182   Foreign Bills of Exchange and P200.00 or fraction thereof .60 .3% Face value of such bill
Letters of Credit of exchange or letter of
credit or the Philippine
equivalent of such
value, if expressed in
foreign   currency
 183      Life Insurance Policies If the amount of insurance exempt      Amount of Insurance
does not exceed P100,000.00    
       
     
If the amount of insurance 20.00    Amount of Insurance
exceeds P100,000.00 but does    
not exceed P300,000.00      
     
     
If the amount of insurance 50.00   Amount of Insurance
exceeds P300,000.00 but does    
not exceed P500,000.00    
      
     
If the amount of insurance 100.00    Amount of Insurance
exceeds P500,000.00 but does    
not exceed P750,000.00    
      
     
If the amount of insurance 150.00    Amount of Insurance
exceeds P750,000.00 but does    
not exceed P1,000,000.00    
      
     
If the amount of insurance 200.00 Amount of Insurance
exceeds P1,000,000.00

184 Policies Of Insurance upon P4.00 premium or fraction .50 12.5% Premium charged
Property thereof

185 Fidelity Bonds and other P4.00 premium or fraction .50 12.5% Premium charged
Insurance Policies thereof

186   Policies of Annuities  or other P200.00 or fraction thereof 1.00 .5% Premium or installment
instruments        payment or contract
        price collected 
         
            
  P200.00 or fraction thereof .40 .20%  
Pre-Need Plans Premium or
contribution   collected

187 Indemnity Bonds P4.00 or fraction thereof .30 7.5% Premium charged

188 Certificates of Damage or Each Certificate 30.00    

otherwise and Certificate or
document   issued by any customs
officers, marine surveyor, notary
public and   certificate required by
law or by rules and regulations of
a public office

189 Warehouse Receipts (except if Each Receipt 30.00    

value does not exceed P200.00)

190 Jai-alai, Horse Race Tickets, lotto P1.00 and below cost of ticket .20    20%     Cost of the ticket
or Other Authorized Number      
   
Games Additional P0.20 on every Cost of the ticket
P1.00 or fraction thereof if cost
of   ticket exceeds P1.00
191   Bills of Lading or If the value of such goods 2.00      Value of such goods
Receipts(except charter party) exceeds P100.00 and does not     
exceed P1,000.00     
      
  20.00   Value of such goods
If the value exceeds P1,000.00       
   
   
Freight tickets covering goods, Exempt
merchandise or effects carried
as accompanied baggage of
passengers on land and water
carriers primarily engaged in
the transportation of
passengers

192  Proxies (except proxies issued Each proxy 30.00    

affecting the affairs of
associations or   corporations,
organized for religious, charitable
or literary purposes)

193   Powers of Attorney (except acts Each Document 10.00    

connected with the collection of
claims due from or accruing to the
Government of the   Republic of
the Philippines, or the government
of any province, city or
Municipality)

194   Leases and other Hiring First 2,000 or fractional part 6.00 .3%  
agreements or memorandum or thereof    
     
contract for hire, use or rent of any      
lands or tenements or portions   2.00   .2%
thereof For every P1,000 or fractional
part thereof in excess of the  
first P2,000 for each year of the
term of the said contract or  
agreement

195 Mortgage or Pledge of lands, First 5,000 40.00 .8% Amount Secured
estate, or property and Deeds of        
       
Trust On each P5,000 or fractional 20.00 .4% Amount Secured
part thereof in excess of 5,000

196 Deed of Sale, Conveyances, First 1,000 15.00 1.5% Consideration or Fair
Donations of Real   Property       Market Value,
      whichever is higher (if  
(except grants, patents or original          government is a party,
certificate of adjudication issued            basis shall be the
by the government)           consideration)
For each additional P1,000 or 15.00 1.5%  
fractional part thereof in  
excess   of P1,000 Consideration or Fair
Market Value,
whichever is higher (if  
government is a party,
basis shall be the
consideration)
 197   Charter parties and Similar Charter parties and similar      
Instruments instruments if gross tonnage of    
the ship, vessel or steamer is:    
     
1,000 tons and below 1st 6 months Registered gross
  P1,000.00 tonnage
  In excess + P  
  100.00  
      
     
1,001 to 10,000 tons      
  1st 6 months Registered gross
  P2,000.00 tonnage
  In excess +  
  P200.00  
      
     
Over 10,000 tons     
1st 6 months   
P3,000 Registered gross
In excess + 300 tonnage

198   Stamp Tax on Assignments and   At the same    

Renewals or Continuance of rate as that
Certain   Instruments imposed on the
original
instrument.

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Procedures

BIR FORM 2000 - (DOCUMENTARY STAMP TAX DECLARATION RETURN)

Who Shall File

The return shall be filed in triplicate by the following:

1. In the case of constructive affixture of documentary stamps, by the person making, signing, issuing, accepting, or transferring
documents, instruments, loan agreements and papers, acceptances, assignments, sales and conveyances of the obligation, right or
property incident thereto wherever the document is made, signed, issued, accepted or transferred when the obligation or right arises
from Philippine sources or the property is situated in the Philippines at the same time such act is done or transaction had;

2. In the case of Electronic Documentary Stamp Tax (eDST) System user, by the taxpayers belonging to the industries mandated to use
the web-based eDST System in the payment/remittance of DST liabilities and the affixture of the prescribed documentary stamp on
taxable documents and taxpayers who, at their option, choose to pay the DST liabilities thru the eDST System pursuant to Revenue
Regulations (RR) No. 7-2009; and

3. By a revenue collection agent for remittance of sold loose documentary stamps.

Whenever one party to the taxable document enjoys exemption from the tax herein imposed, the other party thereto who is not exempt shall
be the one directly liable for the tax.

When and Where to File

The return shall be filed within five (5) days after the close of the month when the taxable document was made, signed, issued, accepted or
transferred or upon remittance by revenue collection agents of collection from the sale of loose documentary stamps.

The return shall be filed with the Authorized Agent Bank (AAB) within the territorial jurisdiction of the Revenue District Office where the
residence or place of business of the taxpayer is located or where the collection agent is assigned. In places where there are no AABs, the
return shall be filed directly with the Revenue Collection Officer (RCO) within the Revenue District Office which has jurisdiction over the
residence or place of business of the taxpayer or where the collection agent is assigned.
When and Where to Pay

Upon filing of this return, the total amount payable shall be paid to the AAB where the return is filed within five (5) days after the close of the
month when the taxable document was made. In places where there are no AABs, the tax shall be paid with the Revenue Collection Officer
who shall issue an Electronic Revenue Official Receipt (eROR) therefor.

When the return is filed with an AAB, taxpayer must accomplish and submit BIR-prescribed deposit slip, which the bank teller shall machine
validate as evidence that payment was received by the AAB. The AAB receiving the tax return shall stamp mark the word “Received” on the
return and also machine validate the return as proof of filing the return and payment of the tax by the taxpayer, respectively. The machine
validation shall reflect the date of payment, amount paid and transactions code, the name of the bank, branch code, teller’s code and teller’s
initial. Bank debit memo number and date should be indicated in the return for taxpayers paying under the bank debit system.

For eDST System User

Prior to the enrollment in the eDST System, taxpayers availing thereof, whether on the mandatory or optional basis, shall be duly enrolled
under the BIR Electronic Filing and Payment System (eFPS). In paying the DST liabilities, BIR Form No. 2000 shall be filed and the amount due
thereon shall be paid thru the eFPS for taxpayers and PhilPass Facility of the Bangko Sentral ng Pilipinas for banks (AABs and non-AABs).

For eFPS Taxpayer

The deadline for electronically filing and paying the taxes due thereon shall be in accordance with the provisions of existing applicable
revenue issuances.

BIR FORM 2000-OT DOCUMENTARY STAMP TAX DECLARATION RETURN (ONE-TIME TRANSACTIONS)

Who Shall File

The return shall be filed in triplicate by the following person making, signing, issuing, accepting or transferring the document or facility
evidencing transaction:

1. Every natural or juridical person, resident or non-resident, for donation, sale, barter, exchange or other onerous disposition of shares
of stock in a domestic corporation, classified as capital asset, not traded in the local stock exchange;

2. Every withholding agent/buyer/seller on the sale, transfer or exchange of real property classified as capital asset. The “sale” includes
pacto de retro sale and other forms of conditional sale; and

3. Every withholding agent/buyer/seller on the sale, transfer or exchange of real property other than capital asset.

4. Every natural or juridical person, resident or non-resident, for donation of real properties.

Whenever one party to the taxable document enjoys exemption from the tax herein imposed, the other party thereto who is not exempt shall
be the one directly liable for the tax.

When and Where to File and Pay

The return shall be filed and the tax paid within five (5) days after the close of the month when the taxable document was made, signed,
issued, accepted or transferred.

The return shall be filed with and the tax paid to the Authorized Agent Bank (AAB) within the territorial jurisdiction of Revenue District Office
(RDO) where the seller/transferor/donor is required to be registered or where the property is located in case of sale of real property.

When the return is filed with an AAB, taxpayer must accomplish and submit BIR-prescribed deposit slip, which the bank teller shall machine
validate as evidence that payment was received by the AAB. The AAB receiving the tax return shall stamp mark the word “Received” on the
return and also machine validate the return as proof of filing the return and payment of the tax by the taxpayer, respectively.

The machine validation shall reflect the date of payment, amount paid and transactions code, the name of the bank, branch code, teller’s
code and teller’s initial. Bank debit memo number and date should be indicated in the return for taxpayers paying under the bank debit
system.
Payments may also be made thru the epayment channels of AABs or online facility, credit/debit/prepaid cards, and mobile payments.

For transactions covered by one (1) Deed of Sale/Exchange/Donation involving one (1) to three (3) properties, the taxpayer can avail of the
fast lane pursuant to Revenue Memorandum Circular (RMC) No. 43-2018, as amended by RMC No. 107-2018. Payments amounting to twenty
thousand pesos (P 20,000.00) and below shall be paid in cash while payments above twenty thousand pesos (P 20,000.00) shall be made
through Manager’s Check or Cashier’s Check to the Revenue Collection Officer of the RDO concerned.

[return to index]

Related Revenue Issuances

Revenue Regulations (RR) Nos. 9-2000, 6-2001, 13-2004, 7-2009, 6-2014, 4-2018

Revenue Memorandum Order (RMO) Nos. 8-1998, 15-2001, 13-2008, 14-2008

Revenue Memorandum Circular (RMC) Nos. 1-2010, 24-2010, 51-2010, 24-2011, 46-2014, 3-2018

OPM-AS-APMD 2017-06-06

OPM-AS-APMD 2017-06-01

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Codal Reference

Secs. 51 to 70 of Republic Act No. 10963 of the Tax Reform for Acceleration and Inclusion (TRAIN) Law

Sec. 173 to Sec. 201 of the National Internal Revenue Code (NIRC)

[return to index]

Frequently Asked Questions

1) What are the documents/ papers not subject to Documentary Stamp Tax?

Under Section 9 of Revenue Regulations No. 13-2004, the following documents and papers are not subject to DST:

Policies of insurance or annuities made or granted by a fraternal or beneficiary society, order, association or cooperative company,
operated on the lodge system or local cooperation plan and organized and conducted solely by the members thereof for the exclusive
benefit of each member and not for profit
Certificates of oaths administered by any government official in his official capacity or acknowledgement by any government official in
performance of his official duty
Written appearance in any court by any government official in his official capacity
Certificates of the administration of oaths to any person as to the authenticity of any paper required to be filed in court by any person or
party thereto, whether the proceedings be civil or criminal
Papers and documents filed in court by or for the national, provincial, city or municipal governments
Affidavits of poor persons for the purpose of proving poverty
Statements and other compulsory information required of persons or corporations by the rules and regulations of the national, provincial,
city or municipal government exclusively for statistical purposes and which are wholly for the use of the Bureau or office in which they are
filed, and not at the instance or for the use or benefit of the person filing them
Certified copies and other certificates placed upon documents, instruments and papers for the national, provincial, city or municipal
governments made at the instance and for the sole use of some other branch of the national, provincial, city or municipal governments
Certificates of the assessed value of lands, not exceeding P200 in value assessed, furnished by the provincial, city or municipal Treasurer
to applicants for registration of title to land
 Borrowing and lending of securities executed under the Securities Borrowing and Lending Program of a registered exchange, or in
accordance with regulations prescribed by the appropriate regulatory authority: Provided, however, That any borrowing or lending of
securities agreement as contemplated hereof shall be duly covered by a master securities borrowing and lending agreement acceptable
to the appropriate regulatory authority, and which agreement is duly registered and approved by the Bureau of Internal Revenue (BIR)
Loan agreements or promissory notes, the aggregate of which does not exceed Two hundred fifty thousand pesos (P250,000), or any
such amount as may be determined by the Secretary of Finance, executed by an individual for his purchase on installment for his personal
use or that of his family and not for business or resale, barter or hire of a house, lot, motor vehicle, appliance or furniture: Provided,
however, That the amount to be set by the Secretary of Finance shall be in accordance with a relevant price index but not to exceed ten
percent (10%) of the current amount and shall remain in force at least for three (3) years
Sale, barter or exchange of shares of stock listed and traded through the local stock exchange (R.A 9648)
Assignment or transfer of any mortgage, lease or policy of insurance, or the renewal or continuance of any agreement, contract, charter, or
any evidence of obligation or indebtedness, if there is no change in the maturity date or remaining period of coverage from that of the
original instrument.
Fixed income and other securities traded in the secondary market or through an exchange.
Derivatives: Provided, that for purposes of this exemption, repurchase agreements and reverse repurchase agreements shall be treated
similarly as derivatives
Inter-branch or interdepartmental advances within the same legal entity
All forbearances arising from sales or service contracts including credit card and trade receivables: Provided, That the exemption be
limited to those executed by the seller or service provider itself.
Bank deposit accounts without a fixed term or maturity
All contracts, deeds, documents and transactions related to the conduct of business of the Bangko Sentral ng Pilipinas
Transfer of property pursuant to Section 40(C)(2) of the National Internal Revenue Code of 1997, as amended
Inter-bank call loans with maturity of not more than seven (7) days to cover deficiency in reserves against deposit liabilities, including
those between or among banks and quasi-banks

Further, Section 20 of RR No. 4-2018 exempts from DST the following donations or gifts that are exempt from donor’s tax:

a. Gifts Made by a Resident:

Gifts made to or for the use of the National Government or any entity created by any of its agencies which is not conducted for profit, or to
any political subdivision of the said Government; and
Gifts in favor of an educational and/or charitable, religious, cultural or social welfare corporation, institution, accredited nongovernment
organization, trust or philanthropic organization or research institution or organization: Provided, however, that not more than thirty
percent (30%) of said gifts shall be used by such donee for administration purposes. For the purpose of this exemption, a 'non-profit
educational and/or charitable corporation, institution, accredited nongovernment organization, trust or philanthropic organization and/or
research institution or organization' is a school, college or university and/or charitable corporation, accredited nongovernment
organization, trust or philanthropic organization and/or research institution or organization, incorporated as a non-stock entity, paying no
dividends, governed by trustees who receive no compensation, and devoting all its income, whether students' fees or gifts, donation,
subsidies or other forms of philanthropy, to the accomplishment and promotion of the purposes enumerated in its Articles of
Incorporation.

b. Gifts Made by a Non-resident not a Citizen of the Philippines:

Gifts made to or for the use of the National Government or any entity created by any of its agencies which is not conducted for profit, or to
any political subdivision of the said Government; and
Gifts in favor of an educational and/or charitable, religious, cultural or social welfare corporation, institution, accredited nongovernment
organization, trust or philanthropic organization or research institution or organization: Provided, however, that not more than thirty
percent (30%) of said gifts shall be used by such donee for administration purposes.

2) Where is the Documentary Stamp Tax Declaration Return filed?

In the Authorized Agent Bank (AAB) within the territorial jurisdiction of the RDO which has jurisdiction over the residence or principal place of
business of the taxpayer or where the property is located in case of sale of real property or where the Collection Agent is assigned. In places
where there is no Authorized Agent Bank, the return will be filed with the Revenue Collection Officer or duly authorized City or Municipal
Treasurer where the taxpayer's residence or principal place of business is located or where the property is located in case of sale of real
property or where the Collection Agent is assigned.

3) What are the documents/papers not subject to Documentary Stamp Tax?  

Policies of insurance or annuities made or granted by a fraternal or beneficiary society, order, association or cooperative company,
operated on the lodge system or local cooperation plan and organized and conducted solely by the members thereof for the exclusive
benefit of each member and not for profit
Certificates of oaths administered by any government official in his official capacity or acknowledgement by any government official in
performance of his official duty
Written appearance in any court by any government official in his official capacity
 Certificates of the administration of oaths to any person as to the authenticity of any paper required to be filed in court by any person or
party thereto, whether the proceedings be civil or criminal
Papers and documents filed in court by or for the national, provincial, city or municipal governments
Affidavits of poor persons for the purpose of proving poverty
Statements and other compulsory information required of persons or corporations by the rules and regulations of the national, provincial,
city or municipal government exclusively for statistical purposes and which are wholly for the use of the Bureau or office in which they are
filed, and not at the instance or for the use or benefit of the person filing them
Certified copies and other certificates placed upon documents, instruments and papers for the national, provincial, city or municipal
governments made at the instance and for the sole use of some other branch of the national, provincial, city or municipal governments
Certificates of the assessed value of lands, not exceeding P200 in value assessed, furnished by the provincial, city or municipal Treasurer
to applicants for registration of title to land
Borrowing and lending of securities executed under the Securities Borrowing and Lending Program of a registered exchange, or in
accordance with regulations prescribed by the appropriate regulatory authority: Provided, however, That any borrowing or lending of
securities agreement as contemplated hereof shall be duly covered by a master securities borrowing and lending agreement acceptable
to the appropriate regulatory authority, and which agreement is duly registered and approved by the Bureau of Internal Revenue (BIR)
Loan agreements or promissory notes, the aggregate of which does not exceed Two hundred fifty thousand pesos (P250,000), or any
such amount as may be determined by the Secretary of Finance, executed by an individual for his purchase on installment for his personal
use or that of his family and not for business or resale, barter or hire of a house, lot, motor vehicle, appliance or furniture: Provided,
however, That the amount to be set by the Secretary of Finance shall be in accordance with a relevant price index but not to exceed ten
percent (10%) of the current amount and shall remain in force at least for three (3) years
Sale, barter or exchange of shares of stock listed and traded through the local stock exchange (R.A 9648)
Assignment or transfer of any mortgage, lease or policy of insurance, or the renewal or continuance of any agreement, contract, charter, or
any evidence of obligation or indebtedness, if there is no change in the maturity date or remaining period of coverage from that of the
original instrument.
Fixed income and other securities traded in the secondary market or through an exchange.
Derivatives: Provided, That for purposes of this exemption, repurchase agreements and reverse repurchase agreements shall be treated
similarly as derivatives
Interbranch or interdepartmental advances within the same legal entity
All forebearances arising from sales or service contracts including credit card and trade receivables: Provided, That the exemption be
limited to those executed by the seller or service provider itself.
Bank deposit accounts without a fixed term or maturity
All contracts, deeds, documents and transactions related to the conduct of business of the Bangko Sentral ng Pilipinas
Transfer of property pursuant to Section 40(C)(2) of the National Internal Revenue Code of 1997, as amended
Interbank call loans with maturity of not more than seven (7) days to cover deficiency in reserves against deposit liabilities, including
those between or among banks and quasi-banks   (sec. 9, RR No. 13-2004)

4) What are the implications of failure to stamp taxable documents?

An instrument, document, or paper which is required by law to be stamped and which has been signed, issued, accepted or transferred
without being duly stamped, shall not be recorded, nor shall it or any copy thereof or any record of transfer of the same be admitted or used in
evidence in any court until the requisite stamp or stamps shall have been affixed thereto and cancelled.

No notary public or other officer authorized to administer oaths shall add his jurat or acknowledgment to any document subject to
documentary stamp tax unless the proper documentary stamps are affixed thereto and cancelled.

5) What is Electronic Documentary Stamp Tax (eDST) System?

The eDST is a web-based application created for taxpayers and the BIR that is capable of affixing a secured documentary stamp on the
taxable documents as defined under the appropriate provisions under Title VII of the National Internal Revenue Code of 1997, as amended,
thru the use of a computer unit, any laser printer with at least 1200 dpi resolution, and Internet Explorer 7.0 It is also capable of providing a 3-
layer watermark on stamps for added security. (Sec. 5 (1), RR No. 7-2009)

6) Is DST Law applicable on Electronic Documents?

The DST rates as imposed under the Code, as amended by R.A. 9243 and further amended by R.A. 10963 shall be applicable on all
documents not otherwise expressly exempted by the said law, notwithstanding the fact that they are in electronic form. As provided for by
R.A. 8792, otherwise known as the Electronic Commerce Act, electronic documents are the functional equivalent of a written document under
existing laws, and the issuance thereof is therefore tantamount to the issuance of a written document, and therefore subject to DST. (Sec. 10,
RR No. 13-2004 as amended by RR No. 4-2018)

7) What are the inclusions of a debt instrument? 

“Debt Instrument” shall mean instruments representing borrowing and lending transaction including but not limited to:
 debentures
certificates of indebtedness
due bills
bonds
loan agreements, including those signed abroad wherein the object of the contract is located or used in the Philippines
instruments and securities issued by the government or any of its instrumentalities
deposit substitute debt instruments
certificates or other evidences of deposits that are drawing instrument significantly higher than the regular savings deposit taking into
consideration the size of the deposit and the risks involved
certificates or other evidences of deposits that are drawing interest and having a specific maturity date
promissory notes, whether negotiable or non-negotiable, except bank notes issued for circulation (Sec. 5, RR No. 13-2004)

8) Is any document, transaction or arrangement entered into under Financial Lease subject to Documentary Stamp Tax?

Financial lease is akin to a debt rather than a lease. A nature of an obligation than a lease of personal property. The mere act of extending
credit is already a means of facilitating an obligation or advancing in behalf of the lessee certain property in lieu of cash in exchange for a
definitive amortization to be paid to the lessor with profit margin included. Section 179 of the NIRC, as amended, covers all debt instruments.
Therefore, being a nature of an obligation, any document, transaction or arrangement entered into under financial lease is subject to DST
under such Section of the NIRC, as amended. (RMC No. 46-2014)

[return to index]

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Sandiganbayan (http://sb.judiciary.gov.ph/)
Court of Tax Appeals (http://cta.judiciary.gov.ph/)
Judicial Bar and Council (http://jbc.judiciary.gov.ph/)