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    RR 9-2000 Digest

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    Kim-O
    This document summarizes Revenue Regulations No. 9-2000 which identifies who is liable for paying Documentary Stamp Tax (DST) and how it should be remitted under certain conditions. Generally, DST can be imposed on the transaction itself or the underlying document, and any party to the taxable transaction is liable. However, if one party is exempt, the non-exempt party is directly liable. Certain parties like banks must use an online electronic stamping machine to pay DST unless exempted. The regulations specify that DST on items like bonds and stock must be remitted by the issuing entity.

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    RR 9-2000 Digest

    Uploaded by

    Kim-O
    21 views1 page
    This document summarizes Revenue Regulations No. 9-2000 which identifies who is liable for paying Documentary Stamp Tax (DST) and how it should be remitted under certain conditions. Generally, DST can be imposed on the transaction itself or the underlying document, and any party to the taxable transaction is liable. However, if one party is exempt, the non-exempt party is directly liable. Certain parties like banks must use an online electronic stamping machine to pay DST unless exempted. The regulations specify that DST on items like bonds and stock must be remitted by the issuing entity.

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    Digest of RR 9-2000

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    This document summarizes Revenue Regulations No. 9-2000 which identifies who is liable for paying Documentary Stamp Tax (DST) and how it should be remitted under certain conditions. Generally, DST can be imposed on the transaction itself or the underlying document, and any party to the taxable transaction is liable. However, if one party is exempt, the non-exempt party is directly liable. Certain parties like banks must use an online electronic stamping machine to pay DST unless exempted. The regulations specify that DST on items like bonds and stock must be remitted by the issuing entity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    21 views1 page

    RR 9-2000 Digest

    Uploaded by

    Kim-O
    This document summarizes Revenue Regulations No. 9-2000 which identifies who is liable for paying Documentary Stamp Tax (DST) and how it should be remitted under certain conditions. Generally, DST can be imposed on the transaction itself or the underlying document, and any party to the taxable transaction is liable. However, if one party is exempt, the non-exempt party is directly liable. Certain parties like banks must use an online electronic stamping machine to pay DST unless exempted. The regulations specify that DST on items like bonds and stock must be remitted by the issuing entity.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    REVENUE REGULATIONS NO.

    9-2000 issued November 22, 2000 identifies the persons liable for the
    Documentary Stamp Tax (DST) and the mode of payment/remittance of the said tax under certain
    conditions. The DST, in general, is a tax imposed against the person making, signing, issuing, accepting or
    transferring the document or facility evidencing the aforesaid transactions. Thus, in general, it may be
    imposed on the transaction itself or upon the document underlying such act. Any of the parties to the
    taxable transaction will be liable and responsible for the payment and remittance of the full amount of
    the tax due. However, whenever one of the parties to the taxable transaction is exempt from the DST, the
    other party who is not exempt shall be the one directly liable for the said tax. If the tax-exempt party is
    one of the persons constituted as agent of the Commissioner for the collection of the tax, he shall be
    required to collect and remit the DST. Failure on his part to collect and remit the DST would make him
    personally liable for the tax and the penalties prescribed under Title X of the Tax Code. The DST on the
    specified cases will be remitted as follows: 1) stamp tax on bonds, debentures, certificates of
    indebtedness, deposit substitute, or other similar instruments - to be remitted by the person who issued
    the instrument; 2) stamp tax on original issue of shares of stock in a corporation - to be remitted by the
    corporation which issued the share(s) of stock; and 3) stamp tax on jai-alai, horse race, lotto or other
    authorized number games - to be remitted by the proprietor or operators. Whenever one of the parties
    to the taxable document or transaction is included in any of the entities enumerated in the Regulations,
    such entities will be responsible for the remittance of the DST. The "on-line electronic DST imprinting
    machine", unless expressly exempted by the Commissioner, will be used in the payment and remittance
    of the DST by the following class of taxpayers: a) bank, quasi-bank or non-bank financial intermediary,
    finance company, insurance, surety, fidelity, or annuity company; b) the Philippine Stock Exchange (in the
    case of shares of stock and other securities traded in the local stock exchange); c) shipping and airline
    companies; d) pre-need company (on sale of pre-need plans); and e) other industries as may be required
    by the Commissioner.

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