Article 68p. 68

NATIONAL INTERNAL REVENUE CODE TAXATION, TARIFF and CUSTOMS LAWS

does not exceed Two hundred pesos (P200). (as amended

by RA No 10963)

SEC. 190. Stamp Tax on Jai-Alai, Horse Racing Tickets,

lotto or Other Authorized Numbers Games. - n each

jai-alai,

horse

race

ticket,

lotto,

or

other authorized

numbers games, there shall be collected a documentary

stamp tax of Twenty centavos (P0.20): Provided, That if

the

cost of the ticket exceed One peso (P1.00), an

additional tax of Twenty centavos (P0.20) on every One

peso

(P1.00),

or

fractional

part

thereof,

shall

be

collected. (as amended by RA No 10963)

SEC. 191. Stamp Tax on Bills of Lading or Receipts. - On

each set of bills of lading or receipts (except charter party)

for any goods, merchandise or effects shipped from one

port or place in the Philippines (except on ferries across

rivers), or to any foreign port, there shall be collected a

documentary stamp tax of Two pesos (P2.00), if the value

of such goods exceeds One hundred pesos (P100) and

does not exceed One thousand pesos (P1,000); Twenty

pesos (P20.00), if the value exceeds One thousand pesos

(P1,000); Provided, however, That freight tickets covering

goods, merchandise or effects carried as accompanied

baggage

of

passengers

on

land

and water carriers

primarily engaged in the transportation of passengers are

hereby exempt. (as amended by RA No 10963)

SEC. 192. Stamp Tax on Proxies. - On each proxy for

voting at any election of officers of any company or

association, or for any other purpose, except proxies

issued affecting the affairs of associations or corporations

organized for religious, charitable or literary purposes,

there shall be collected a documentary stamp tax of

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

SEC. 193. Stamp Tax on Powers of Attorney. - On each

power of attorney to perform any act whatsoever, except

acts 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, there shall be collected a documentary

stamp tax of Ten pesos (P10.00). (as amended by RA No

10963)

SEC.

194.

Stamp

tax

on

Lease

and

Other

Hiring

Agreements. - On each lease, agreement, memorandum,

or contract for hire, use or rent of any lands or tenements,

or

portions

thereof,

there

shall

be

collected

a

documentary stamp tax of Six pesos (P6.00) for the first

Two thousand pesos (P2,000), or fractional part thereof,

and

an additional Two pesos (P2.00) for every One

thousand pesos (P1,000) or fractional part thereof, in

excess of the first Two thousand pesos (P2,000) for each

year of the term of said contract or agreement. (as

amended by RA No 10963)

SEC. 195. Stamp Tax on Mortgages, Pledges and Deeds

of Trust. - On every mortgage or pledge of lands, estate,

or

property,

real

or

personal,

heritable

or

movable,

whatsoever, where the same shall be made as a security

for the payment of any definite and certain sum of

money lent at the time or previously due and owing or

forborne

to

be

paid,

being

payable,

and

on

any

conveyance of land, estate, or property whatsoever, in

trust or to be sold, or otherwise converted into money

which shall be and intended only as security, either by

express stipulation or otherwise, there shall be collected a

documentary stamp tax at the following rates:

(a) When the amount secured does not exceed Five

thousand pesos (P5,000), Forty pesos (P40.00).

(b)

On

each

Five

thousand

pesos

(P5,000),

or

fractional part thereof in excess of Five thousand

pesos (P5,000), an additional tax of Twenty pesos

(P20.00).

(as amended by RA No 10963)

On any mortgage, pledge, or deed of trust, where the

same shall be made as a security for the payment of a

fluctuating account or future advances without fixed

limit, the documentary stamp tax on such mortgage,

pledge or deed of trust shall be computed on the amount

actually loaned or given at the time of the execution of

the

mortgage,

pledge

or

deed

of

trust,

additional

documentary stamp tax shall be paid which shall be

computed on the basis of the amount advanced or

loaned at the rates specified above: Provided, however,

That if the full amount of the loan or credit, granted

under the mortgage, pledge or deed of trust shall be

computed on the amount actually loaned or given at the

time of the execution of the mortgage, pledge or deed of

trust. However, if subsequent advances are made on such

mortgage,

pledge

or

deed

of

trust,

additional

documentary stamp tax shall be paid which shall be

computed on the basis of the amount advanced or

loaned at the rates specified above: Provided, however,

That if the full amount of the loan or credit, granted

under the mortgage, pledge or deed of trust is specified

in

such

mortgage,

pledge

or

deed

of

trust,

the

documentary stamp tax prescribed in this Section shall

be paid and computed on the full amount of the loan or

credit granted.

SEC. 196. Stamp tax on Deeds of Sale, Conveyances and

Donation

of

Real

Property.

-

On

all

conveyances,

donations, deeds, instruments, or writings, other than

grants, patents or original certificates of adjudication

issued by the Government, whereby any land, tenement,

or other realty sold shall be granted, assigned, transferred,

donated or otherwise conveyed to the purchaser, or

purchasers, or to any other person or persons designated

by such purchaser or purchasers, or donee, there shall be

collected a documentary stamp tax, at the rates herein

below prescribed, based on the consideration contracted

to be paid for such realty or on its fair market value

determined in accordance with Section 6(E) of this Code,

whichever is higher: Provided, That when one of the

contracting parties is the Government, the tax herein

imposed shall be based on the actual consideration:

(a) When the consideration, or value received or

contracted to be paid for such realty, after making

proper allowance of any encumbrance, does not

exceed One thousand pesos (P1,000), Fifteen pesos

(P15.00).

(b) For each additional One thousand pesos (P1,000)

or fractional part thereof in excess of One thousand

pesos (P1,000) of such consideration or value, Fifteen

pesos (P15.00).

Transfers exempt from donor's tax under Section 101(a)

and (b) of this Code shall be exempt from the tax

imposed under this Section.

When it appears that the amount of the documentary

stamp tax payable hereunder has been reduced by an

incorrect

statement

of

the

consideration

in

any

conveyance, deed, instrument or writing subject to such

tax the Commissioner, provincial or city Treasurer, or

other revenue officer shall, from the assessment rolls or

other reliable source of information, assess the property

of its true market value and collect the proper tax

thereon.

(as amended by RA No 10963)

SEC. 197. Stamp Tax on Charter Parties and Similar

Instruments.

-

On

every

charter

party,

contract

or

agreement for the charter of any ship, vessel or streamer,

or any letter or memorandum or other writing between

the captain, master or owner, or other person acting as

agent of any ship, vessel or steamer, and any other person

or persons for or relating to the charter of any such ship,

vessel or streamer, and on any renewal or transfer of such

charter, contract, agreement, letter or memorandum,

there shall be collected a documentary stamp tax at the

following rates:

(a) If the registered gross tonnage of the ship, vessel

or steamer does not exceed one thousand (1,000)

tons, and the duration of the charter or contract

does not exceed six (6) months, One thousand pesos

(P1,000); and for each month or fraction of a month

in excess of six (6) months, an additional tax of One

hundred pesos (P100) shall be paid.

© Compiled by RGL

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