RMC No. 56-2019 — Clarifies the reckoning period for the payment of Documentary Stamp Tax on original issue of shares of stocks Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAT REVENUE Ma1' 29, 2A19 REVE,NUE MEMORAI\DUM CTRCULAR NO. 5O- I,O/q Subject Clarifieation on the Reckoning Period for the Payment of Documentrry To Stamp Tax (DST) on Original Issue of Shares of Stocks AII Internal Revenue Officials, Employees and Others Concerned. It has been observed that Revenue District Offices have different practices in the imposition of late penalty on the payment of Documentary Stamp Tax (DST) on original issue of shares of stocks of new corporations. This Circular is being issued to reiterate the reckoning period for the payment of DST on the original issue of shares of stocks of nern, corporations pursuant to Revenue Memorandum Order No. 8-98. New corporations shall file the DST declaration/return (BIR Form No. 2000) on original issue of shares of stocks and pay the tax due thereon, within five (5) days after the close of the month of the date of registration with the Securities and Exchange Commission as shown in the Certificate of Incorporation/Certificate of Recording/License to Do Business in the Phitippines. Hence, penalty for late payment of DST declaration/relum on original issue of shares of stocks shall accrue if paid beyond said due time. All internal revenue officers and employees are hereby enjoined to give this Circular a r,vide publicity as possibie. -*+-a'^aqa,rz CAESAR R. DULAY L 11-2 ' 025943 Comrnissioner of Internal Revenue imag t0:00 A-:tt4: 2I &rAY rCIfg