Article 67p. 67

NATIONAL INTERNAL REVENUE CODE TAXATION, TARIFF and CUSTOMS LAWS

notes issued to secure such loan. (as amended by RA No

10963)

For purposes of this section, the term ' debt instrument '

shall mean debt instrument representing borrowing and

lending

transactions

including

but

not

limited

to

debentures, certificates of indebtedness, due bills, bonds,

loan agreements, including those signed abroad wherein

the

object

of

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 either drawing interest

significantly higher than the regular savings deposit

taking into consideration the size of the deposit and the

risks involved or drawing interest and having a specific

maturity date, orders for payment of any sum of money

otherwise than at sight or on demand, promissory notes,

whether negotiable or non-negotiable, except bank notes

issued for circulation.

SEC. 180 Stamp Tax on All Bills of Exchange or Drafts. -

On all bills of exchange (between points within the

Philippines)

or

drafts,

there

shall

be

collected

a

documentary stamp tax of Sixty centavos (P0.60) on each

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

the face value of any such bill of exchange or draft. (as

amended by RA No 10963)

SEC.

181.

Stamp Tax Upon Acceptance of Bills of

Exchange

and

Others.

-

Upon

any

acceptance

or

payment of any bill of exchange or order for the payment

of money purporting to be drawn in a foreign country but

payable in the Philippines, there shall be collected a

documentary stamp tax of Sixty centavos (P0.60) on each

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

the face value of any such bill of exchange, or order, or the

Philippine equivalent of such value, if expressed in foreign

currency. (as amended by RA No 10963)

SEC. 182. Stamp Tax on Foreign Bills of Exchange and

Letters of Credit. - On all foreign bills of exchange and

letter

of

credit

(including

orders,

by

telegraph

or

otherwise, for the payment of money issued by express or

steamship companies or by any person or persons) drawn

in but payable out of the Philippines in a set of three (3) or

more according to the custom of merchants and bankers,

there shall be collected a documentary stamp tax of Sixty

centavos (P0.60) on each Two hundred pesos (P200), or

fractional part thereof, of the face value of any such bill of

exchange or letter of credit, or the Philippine equivalent

of such face value, if expressed in foreign currency. (as

amended by RA No 10963)

SEC. 183. Stamp Tax on Life Insurance Policies. - On all

policies of insurance or other instruments by whatever

name the same may be called, whereby any insurance

shall be made or renewed upon any life or lives, there

shall be collected a one-time documentary stamp tax at

the following rates:

If the amount of insurance does not

exceed P 100,000

If the amount of insurance exceeds

P100,000 but does not exceed

P300,000

If the amount of insurance exceeds

P300,000 but does not exceed

P500,000

If the amount of insurance exceeds

P500,000 but does not exceed

P750,000

If the amount of insurance exceeds

P750,000 but does not exceed

P1,000,000

If the amount of insurance exceeds

P1,000,000

Exempt

Php 20.00

Php 50.00

Php 100.00

Php 150.00

Php

200.00

SEC. 184. Stamp Tax on Policies of Insurance Upon

Property.

-

On

all

policies

of

insurance

or

other

instruments by whatever name the same may be called,

by which insurance shall be made or renewed upon

property of any description, including rents or profits,

against peril by sea or on inland waters, or by fire or

lightning, there shall be collected a documentary stamp

tax of Fifty centavos (P0.50) on each Four pesos (P4.00), or

fractional

part

thereof,

of

the

amount

of premium

charged: Provided, however, That no documentary stamp

tax shall be collected on reinsurance contracts or on any

instrument by which cession or acceptance of insurance

risks under any reinsurance agreement is effected or

recorded.

SEC. 185. Stamp Tax on Fidelity Bonds and Other

Insurance Policies. - On all policies of insurance or bonds

or obligations of the nature of indemnity for loss, damage

or liability made or renewed by any person, association,

company or corporation transacting the business of

accident, fidelity, employer's liability, plate, glass, steam,

boiler, burglar, elevator, automatic sprinkler, or other

branch of insurance (except life, marine, inland, and fire

insurance), and all bonds, undertakings, or recognizances,

conditioned for the performance of the duties of any

office or position, for the doing or not doing of anything

therein specified, and on all obligations guaranteeing the

validity or legality of any bond or other obligations issued

by any province, city, municipality, or other public body or

organization, and on all obligations guaranteeing the title

to any real estate, or guaranteeing any mercantile credits,

which may be made or renewed by any such person,

company

or

corporation,

there

shall

be collected a

documentary stamp tax of Fifty centavos (P0.50) on each

Four pesos (P4.00), or fractional part thereof, of the

premium charged.

SEC. 186. Stamp Tax on Policies of Annuities and

Pre-Need Plans. - On all policies of annuities, or other

instruments by whatever name the same may be called,

whereby

an

annuity

may

be

made,

transferred

or

redeemed, 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 premium or

installment payment on contract price collected. On

pre-need plans, the documentary stamp tax shall be

Forty centavos (P0.40) on each Two hundred pesos

(P200), or fractional part thereof, of the premium or

contribution collected. (as amended by RA No 10963)

SEC. 187. Stamp Tax on Indemnity Bonds. - On all bonds

for indemnifying any person, firm or corporation who

shall

become

bound

or

engaged as surety for the

payment of any sum of money or for the due execution or

performance of the duties of any office or position or to

account for money received by virtue thereof, and on all

other bonds of any description, except such as may be

required in legal proceedings, or are otherwise provided

for herein, there shall be collected a documentary stamp

tax of Thirty centavos (P0.30) on each Four pesos (P4.00),

or fractional part thereof, of the premium charged.

SEC.

188.

Stamp

Tax

on

Certificates.

-

On

each

certificate of damage or otherwise, and on every other

certificate or document issued by any customs officer,

marine surveyor, or other person acting as such, and on

each certificate issued by a notary public, and on each

certificate of any description required by law or by rules

or regulations of a public office, or which is issued for the

purpose of giving information, or establishing proof of a

fact, and not otherwise specified herein, there shall be

collected

a

documentary stamp tax of Thirty pesos

(P30.00). (as amended by RA No 10963)

SEC. 189. Stamp Tax on Warehouse Receipts. - On each

warehouse receipt for property held in storage in a public

or private warehouse or yard for any person other than

the proprietor of such warehouse or yard, there shall be

collected

a

documentary stamp tax of Thirty pesos

(P30.00): Provided, That no tax shall be collected on each

warehouse receipt issued to any one person in any one

calendar month covering property the value of which

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