Article 66p. 66

NATIONAL INTERNAL REVENUE CODE TAXATION, TARIFF and CUSTOMS LAWS

internal revenue officer may, in the discharge of his

official duties, enter any house, building or place where

articles subject to tax under this Title are produced or

kept, or are believed by him upon reasonable grounds to

be produced or kept, so far as may be necessary to

examine, test, discover or seize the same.

He may also stop and search any vehicle or other means

of transportation when upon reasonable grounds he

believes that the same carries any article on which the

excise tax has not been paid.

Subject to rules and regulations to be issued by the

Secretary

of

Finance,

the

Commissioner

of

Internal

Revenue or his authorized representatives may conduct

periodic random field tests and confirmatory tests on fuel

required to be marked under Section 148-A found in

warehouses, storage tanks, gas stations and other retail

outlets, and in such other properties of persons engaged

in the sale, delivery, trading, transportation, distribution,

or importation of fuel intended for the domestic market:

Provided, the following shall be complied with:

(a) Random field testing shall be conducted in the

presence of revenue or customs officers, fuel marking

provider, and the authorized representative of the

owner of the fuel to be tested: Provided, That an

employee assigned or working at the place where the

random field test is conducted shall be deemed an

authorized representative of the owner;

(b)

All

field

tests

shall

be

properly

filmed

or

video-taped, and documented; and

(c) A sample of the randomly tested fuel shall be

immediately obtained by the revenue or customs

officer upon discovering that the same is unmarked,

adulterated, or diluted:

Provided, further, That confirmatory fuel test certificates

issued by fuel testing facilities shall be valid for any legal

purpose from the date of issue, and shall constitute

admissible and conclusive evidence before any court.

(as amended by RA No 10963)

SEC. 172. Detention of Package Containing Taxable

Articles. - Any revenue officer may detain any package

containing or supposed to contain articles subject to

excise tax when he has good reason to believe that the

lawful tax has not been paid or that the package has

been or is being removed in violation of law, and every

such package shall be held by such officer in a safe place

until it shall be determined whether the property so

detained is liable by law to be proceeded against for

forfeiture;

but

such

summary

detention

shall

not

continue in any case longer than seven (7) days without

due process of law or intervention of the officer to whom

such detention is to be reported.

TITLE VII DOCUMENTARY STAMP TAX

(As Amended by RA Nos. 9243, 9648, & 10001, 10963)

SEC.

173.

Stamp

Taxes

Upon

Documents,

Loan

Agreements,

Instruments

and

Papers.

-

Upon

documents, instruments, loan agreements and papers,

and upon acceptances, assignments, sales and transfers

of the obligation, right or property incident thereto, there

shall be levied, collected and paid for, and in respect of

the

transaction

so

had

or

accomplished,

the

corresponding documentary stamp taxes prescribed in

the following Sections of this Title, by the person making,

signing,

issuing, accepting, or transferring the same

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, and the same time such act is done or

transaction had: Provided, That whenever one party to

the taxable document enjoys exemption from the tax

herein imposed, the other party who is not exempt shall

be the one directly liable for the tax.

SEC. 174. Stamp Tax on Original Issue of Shares of

Stock. - On every original issue, whether on organization,

reorganization or for any lawful purpose, of shares of

stock by any association, company, or corporation, there

shall be collected a documentary stamp tax of Two pesos

(P2.00) on each Two hundred pesos (P200), or fractional

part thereof, of the par value, of such shares of stock:

Provided, That in the case of the original issue of shares of

stock without par value, the amount of the documentary

stamp tax herein prescribed shall be based upon the

actual consideration for the issuance of such shares of

stock:

Provided,

further,

That

in

the

case

of

stock

dividends,

on the actual value represented by each

share. (as amended by RA No 10963)

SEC. 175. Stamp Tax on Sales, Agreements to Sell,

Memoranda of Sales, Deliveries or Transfer of Shares or

Certificates of Stock. — On all sales, or agreements to

sell, or memoranda of sales, or deliveries, or transfer of

shares or certificates of stock in any association, company,

or

corporation,

or

transfer

of

such

securities

by

assignment in blank, or by delivery, or by any paper or

agreement,

or

memorandum

or

other evidences of

transfer or sale whether entitling the holder in any

manner to the benefit of such stock, or to secure the

future payment of money, or for the future transfer of any

stock, there shall be collected a documentary stamp tax

of One peso and fifty centavos (P1.50) on each Two

hundred pesos (P200), or fractional part thereof, of the

par value of such stock: Provided, That only one tax shall

be collected on each sale or transfer of stock from one

person

to

another,

regardless

of

whether

or not a

certificate of stock is issued, indorsed, or delivered in

pursuance of such sale or transfer: and Provided, further,

That in the case of stock without par value the amount of

the documentary stamp tax herein prescribed shall be

equivalent to fifty percent (50%) of the documentary

stamp tax paid upon the original issue of said stock. (as

amended by RA No 10963)

SEC. 176. Stamp Tax on Bonds, Debentures, Certificate

of Stock or Indebtedness Issued in Foreign Countries. -

On

all

bonds,

debentures,

certificates

of

stock,

or

certificates of indebtedness issued in any foreign country,

there

shall be collected from the person selling or

transferring the same in the Philippines, such as tax as is

required by law on similar instruments when issued, sold

or transferred in the Philippines.

SEC. 177.

Stamp Tax on Certificates of Profits or

Interest

in

Property

or

Accumulations.

—

On

all

certificates of profits, or any certificate or memorandum

showing interest in the property or accumulations of any

association, company or corporation, and on all transfers

of

such

certificates

or

memoranda,

there

shall

be

collected a documentary stamp tax of One peso (P1.00)

on each Two hundred pesos (P200), or fractional part

thereof,

of

the

face

value

of

such

certificates

or

memorandum. (as amended by RA No 10963)

SEC.

178.

Stamp

Tax

on

Bank

Checks,

Drafts,

Certificates of Deposit not Bearing Interest, and Other

Instruments. — On each bank check, draft, or certificate

of deposit not drawing interest, or order for the payment

of any sum of money drawn upon or issued by any bank,

trust company, or any person or persons, companies or

corporations, at sight or on demand, there shall be

collected

a

documentary stamp tax of Three pesos

(P3.00). (as amended by RA No 10963)

SEC. 179.

Stamp tax on All Debt Instruments. - On every

original issue of debt instruments, there shall be collected

a documentary stamp tax of One peso and fifty centavos

(P1.50) on each Two hundred pesos (P200), or fractional

part

thereof,

of

the

issue

price

of

any

such

debt

instruments: Provided, That for such debt instruments

with terms of less than one (1) year, the documentary

stamp tax to be collected shall be of a proportional

amount in accordance with the ratio of its term in

number of days to three hundred sixty-five (365) days:

Provided, further, That only one documentary stamp tax

shall be imposed on either loan agreement, or promissory

© Compiled by RGL

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