Upon motion
of the Minister of Colonies, in accord
with the Ministerial Council, in the name
of my August son, the King, Don Alfonso
XIII, and as Queen Regent of the Kingdoms,
I decree
the
following: .
.
Article
1. From the first of July next,
the Stamp Tax on drafts in all Spanish possessions and colonies
will be adjusted to the following, precepts:
Article
2. In accordance with present Decree, there will be considered as
drafts:
1. Bills
of Exchange;
2. Drafts
Payable to Order;
3. Negotiable
promissory Notes;
4. Checks
Payable to Order;
5. Orders
of Transfer issued by banks or
companies against their branch houses; and
6.
Letters of Credit for fixed sums, as
well as assignments, securities, or any other
documents be means of which the transfer, exchange
or payment of money in account current is realized.
|
Amount
(P)
|
Stamp
(P) |
Class
No. |
| 100.00
and less |
0.05 |
21 |
| 100.05
to 200.00 |
0.15 |
20 |
| 200.05
to 400.00 |
0.20 |
19 |
| 400.05
to 600.00 |
0.30 |
18 |
| 600.05
to 1,000.00 |
0.60 |
17 |
| 1,000.05
to 1,400.00 |
0.80 |
16 |
| 1,400.05
to 2,000.00 |
1.20 |
15 |
| 2,000.05
to 2,400.00 |
1.40 |
14 |
| 2,400.05
to 3,000.00 |
1.80 |
13 |
| 3,000.05
to 3,400.00 |
2.00 |
12 |
| 3,400.05
to 4,000.00 |
2.40 |
11 |
| 4,000.05
to 4,400.00 |
3.00 |
10 |
| 4,400.05
to 5,000.00 |
3.60 |
9 |
| 5,000.05
to 6,000.00 |
4.00 |
8 |
| 6,000.05
to 7,000.00 |
5.00 |
7 |
| 7,000.05
to 8,000.00 |
6.00 |
6 |
| 8,000.05
to 9,000.00 |
7.00 |
5 |
| 9,000.05
to 10,000.00 |
8.00 |
4 |
| 10,000.05
to 12,000.00 |
9.00 |
3 |
| 12,000.05
to 16,000.00 |
10.00 |
2 |
| 16,000.05
to 20,000.00 |
15 |
1 |
For
sums in excess of P20,000 there will be affixed
to the draft in addition to the loose stamp (timbre movil)
of P15.00 loose stamps at the rate of 15 centimes
on each P200.00 in excess of that amount. [81]
Stubs of
accounts current and checks payable to bearer will require only a
loose stamp of 5 centimos.
Article
4. Unlimited letters of credit will bear, upon
issue a loose stamp of 20 centimos, but if
the amount realized be in excess of P200.00, the difference
will be made up in accordance with the scale set
forth in Article 3; payment to be made in loose stamps which
will be cancelled with the signature of the holder of
the document. In regard to letters of credit for limited amounts,
upon issue they will bear a loose stanp of 5 centimos, the
difference to be made good in accordance with the scale
upon the basis of the amount realized.
Article
5. Drafts drawn within the Islands may not
be negotiated, accepted or paid, unless provided with
the required stamps, according to their amount.
In case the transfer be made by telegraph, the stamp
corresponding to the amount drawn will be affixed
to the original telegraph form.
Article
6. Drafts drawn abroad, which are to be presented
for payment is the Islands, and those draw in territory
where the stamp Tax is not demandable, but which are
payable where it is in force, before being
negotiated, accepted, or paid, must be provided with
the draft stamps which the State issues, in proportion to the amount
drawn, without which requisite they will not be admissible
in the Courts. A like formality will
be required in the case of the drafts which may be issued in
favor of the Treasury or which may be issued by
the same.
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