By: Garry S. Pagaspas
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 36-2012 (RMC 36-2012)dated August 3, 2012 entitled “Clarification on whether documents mentioned in Section 199 o the Tax Code 0f 1997, as amended by Republic Act No. 9243, are subject to documentary stamp tax (DST) of P15.00 as prescribed in Section 188 of the said Code”.
RMC 36-2012 reiterates that only instruments, documents and papers of transactions expressly enumerated in Section 199 of the Tax Code, as amended, and since the certificates and other necessary documents issued by the Construction Industry Authority of the Philippines was not mentioned, the following are subject to the documentary stamp tax of P15.00:
The RMC 36-2012 amplifies Revenue Regulations No. 13-2004 , as amended, particularly Section 199 of the Tax Code of 1997, as amended by Republic Act No. 9243.
The DST referred to under this RMC 36-2012 is the stamp that is being attached to the document above mentioned. It is not the DST that is being filed using BIR Form No. 2000. In effect, the BIR is saying that the above documents are subject to DST because they are not among the documents mentioned in Section 199 of the tax Code, as amended. As such, when you deal with the above documents, see to it that the DST of P15.00 has been stamped to the document.
(Garry S. Pagaspas is a Resource Speaker with Tax and Accounting Center, Inc. He is a Certified Public Accountant and a degree holder in Bachelor of Laws engaged in active tax practice for more than seven (7) years now and a professor of taxation for more than four (4) years now. He had assisted various taxpayers in ensuring tax compliance and tax management resulting to tax savings rendering tax studies, opinions, consultancies and other related services. For comments, you may please send mail at firstname.lastname@example.org.)
Disclaimer: This article is for general conceptual guidance only and is not a substitute for an expert opinion. Please consult your preferred tax and/or legal consultant for the specific details applicable to your circumstances.
Tax Management and Compliance Consultancies. With our tax services, we can assist you ensure tax compliance and in the management of such continuing compliance. Proper compliance would bring about tax savings form avoiding being penalized to tax minimization strategies. Likewise, we could assist you in securing a BIR ruling confirming the applicable tax exemptions.
Bookkeeping and Tax Compliance Education. We offer range of quality seminars, trainings, and workshop geared towards developing the required knowledge in tax and accounting compliance.
Corporate Registrations. We could assist you in the complete registration of your legal business entity – ordinary corporation, license to do business for foreign corporations, foundations, non-stock and non-profit corporations. We already have established and registered a number of corporations – local and foreign with the Securities and Exchange Commission and other government agencies.(Post viewed 1405 times)