DOCUMENTARY
STAMPS were created by the Internal Revenue Law of 1904 (Act 1189), which
listed the documents subject to documentary stamp tax, specified the amount
of the tax on each document and required that DOCUMENTARY STAMPS be affixed
to such documents in payment of the tax. The Spanish Philippine laws imposing
documentary stamp taxes that were still in force were repealed by the Internal
Revenue Law of 1904, thereby abolishing the use of Papel Sellado (Stamped
Paper) and adhesive Giro and Giro stamps for the collection of documentary
stamp taxes.
INTERNAL
REVENUE stamps of the 1c, 2c, 5c and 10c denominations had been created
in 1899 to replace Spanish Philippines TIMBRE MOVIL ESPECIAL stamps for
the collection of those documentary stamp taxes which, under Spanish Philippine
laws, had been collected by the use of TIMBRE MOVIL ESPECIAL stamps.
In 1902, CUSTOMS stamps had been created to replace adhesive SELLO stamps
and INTERNAL REVENUE stamps for the collection of the documentary stamp
taxes on customs documents. INTERNAL REVENUE stamps of the 2c and 10c denominations
continued to be used, however, for the collection of the documentary
stamp taxes on receipts or memoranda for money paid, warehouse receipts
and bills of lading, until such use was abolished by the Internal Revenue
Law of 1904.
The
documentary stamp taxes imposed by this law were as follows:
DOCUMENTARY
STAMP TAXES
Bonds,
debentures and certificates of indebtedness, each P220, or fractional part
thereof, of face value |
P
0.20
|
Certificates
of stock, original, on each P 200, or fraction of face value. |
0.20
|
Sales,
agreements to sell, memoranda of sales, or deliveries, transfers, of shares
of stock, on each P200, or fraction, of face value. |
0
0.04
|
Certificates
of profit, or certificates showing interest in the property or accumulations,
on each P 200, or fraction, of face value. |
0
0.02
|
Bank
checks, drafts, or certificates of deposit, not drawing interest and payable
on sight or demand. |
0.02
|
Bill
of exchange, drawn and payable within the Philippine Islands, each P200,
or fraction, of face value. |
0.02
|
Drafts
drawing interest, and payable otherwise than on sight or demand, each P200,
or fraction, of face value. |
0
0.02
|
Promissory
notes, other than issues for circulation, or any renewals thereof, each
P200, or fraction, of face value. |
0
0.02
|
Certificates
of deposit drawing interest, or order of payment of any sum of money otherwise
than on sight or demand, each P200, or fraction, of face value. |
0
0.04
|
Foreign
bills of exchange, drawn in, but payable outside of the Philippine Islands,
each P200, or fraction, of face value. |
0
0.04
|
Letters
of credit, including orders by telegraph, express company and steamship
companies, drawn in, but payable out of the Philippine Islands, each P200,
or fraction, of face value. |
0
0.04
|
Insurance
policies on life, each P200, or fraction, of face value. |
0.10
|
Insurance
policies upon property, including rents or profits, against peril by sea
or inland waters, fire or lightning, on each P4, or fraction, of premium. |
0
0.02
|
Policies
of annuities on each P200, or fraction of the capital or, should the capital
be unknown, on each P200, or fraction of 33-1/3 times the annual income |
0
0.10
|
Each
bond of indemnity, and every other bond, not mentioned. |
0.50
|
Certificates
of damage, or any other certificate or document issued by Captains of Port
of marine surveyors. |
0.20
|
Certificates
of notaries public. |
0.20
|
Certificates
of any description required by law and not otherwise specified. |
0.20
|
Receipts
or memoranda for money paid, when the amount exceeds 30 pesos |
0.04
|
Warehouse
receipts for goods held in storage. |
0.20
|
Bills
of lading for foreign shipment, each set. |
0.10
|
Bills
of lading for local shipment, when the value of the goods exceeds P5, each
copy of each set |
0.02
|
Tickets
for United States or foreign ports, when passage cost does not exceed P60. |
1.00
|
Tickets,
as above, when passage cost exceeds P60 but not P120. |
2.00
|
Tickets,
as above, when passage cost exceeds P120. |
3.00
|
Power
of attorney or proxy for voting, at an election for officers of a company,
etc. |
0.20
|
Power
of attorney to sell, or rent, or collect rent on, real estate, or sell
stock, bonds, or securities, or collect dividends, or perform any acts
not otherwise specified |
0
0.20
|
Lease
or rent of any real estate, tenement, or part thereof, for one year or
less |
0.20
|
Lease,
as above, for more than one year but not more than 3 years |
0.50
|
Lease,
as above, for more than 3 years. |
1.00
|
Mortgage,
secured by either real or personal property, when the amount of mortgage
is not less than P1,000 or more than P5,000. |
0
0.50
|
Mortgage,
on each P3,000 or fraction in excess of P3,000, and additional. |
0.50
|
Deeds
of real estate, when true value received is more than P200 but not more
than P1,000 |
0.50
|
Charter
party, of any vessel, when registered gross tonnage is not more than 300
tons. |
6.00
|
Charter
party, when registered gross tonnage is more than 300 but not more than
600 tons. |
10.00
|
Charter
party, when registered gross tonnage is more than 600 tons. |
20.00
|
|