RMC No. 35-2020 — Exempts from Documentary Stamp Tax the relief for loans granted under RR No. 8-2020

C C BUREAU OF INTERNAL REVENUE Republic of the Philippines Department of Finance National Office Quezon City APR 02 2020 11:53 AM

April 2,2020

REVENUE MEMORANDUM CIRCULAR NO.35-2020

SUBJEcT: Exemption from Documentary Stamp Tax (DST for Relief for Loans

pursuant to Revenue Regulations No.8 -2020 dated April 1,2020

TO: ALL INTERNAL REVENUE OFFICERS,TAXPAYERS AND OTHERS

CONCERNED

(NIRC), Revenue Regulations No. 8 - 2020 dated April 1, 2020 was issued implementing Section 4(aa) and (n) of R.A. No.11469, otherwise known as "Bayanihan to Heal as One Pursuant to the provisions of Section 244 of the National Internal Revenue Code

Act

All banks, quasi-banks, financing companies, lending companies, and other financial institutions,public and private, including the Government Service Insurance

payment of all loans shall not impose additional documentary stamp tax (DST) imposed System,Social Security System and Pag-ibig Fund,in extending the grace period for the under Section 179, 195 and 198 of the NIRC,for credit extensions and credit restructuring, micro-lending including those obtained from pawnshops and extensions thereof during the covered period.

All internal revenue officers and others concermed are enjoined to give this Circular as wide a publicity as possible,and that a copy thereof be filed with the Office of the National Administrative Register (ONAR) of the UP Law Center.

1eusou1y

CAESAR R.DULAY Commissioner of Internal Revenue

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