RMO No. 36-2007 — Modifies the specification of tax rates of Documentary Stamp Tax on all debt instruments Digest | Full Text

SUBJECT REPUBLIC OF THE PHILIPPINES TO DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City November 29, 2007 REVENUE MEMORANDUM ORDER NO. 36-2007 : Modification on the Specification of Tax Rates of Documentary Stamp Tax on All Debt Instruments Under the Tax Forms Enhancement Program : All Collection Agents, Revenue District Officers, Other Internal Revenue Officers and Others Concerned I. Objective : To facilitate the proper identification and monitoring of Documentary Stamp Tax on All Debt Instruments pursuant to Revenue Regulations No. 13-2004 and in connection with the Bureau's Tax Forms Enhancement Program. II. The following tax rate specification is hereby modified : Existing Type of Tax New Issuance/ ATC BIR Description Tax Rate Description Tax Rate Legal Basis/ Form Affected Reasons All Debt P1.00 on Original Issue of P1.00 on each P200.00 or Sec. 5 of RA DS106 2000 Instruments each All Debt fractional part thereof, of the No. 9243 P200.00 or Instruments issue price of any such debt and fractional instrument, provided that for Sec. 5 of part such debt instrument with RR No. 13- thereof, of terms of less than 1 year, the 2004 the issue DST to be collected shall be of price of any a proportional amount in such debt accordance with the ratio of instrument its term in no. of days to 365 days III. Repealing clause : This Revenue Memorandum Order revises portions of all other issuances inconsistent herewith. IV. Effectivity : This Revenue Memorandum Order shall take effect immediately. (Original Signed) LILIAN B. HEFTI Commissioner of Internal Revenue