DESCRIPTION

Documentary Stamp Tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto.


TAX FORM

BIR Form 2000-OT

DOCUMENTARY REQUIREMENTS

Photocopy of document(s) to which the documentary stamp shall be affixed, in case of constructive affixture of Documentary Stamp Tax

PROCEDURES

File BIR Form No. 2000-OT in triplicate (two copies for the BIR and one copy for the taxpayer) with the Authorized Agent Bank (AAB) in the Revenue District where the property is located (see list o f AAB below).

In places where there are no AAB, the return will be filed directly with the Revenue Collection Officer or Authorized City or Municipal Treasurer (see list of RDO below).

LIST OF AUTHORIZED AGENT BANKS (AAB)

LIST OF REVENUE DISTRICT OFFICES (RDO)

TAX RATES

For real property – 1.5% of either the Fair Market Value (FMV) or the Gross Selling Price, whichever is higher.

How to compute FMV:

FMV = Zonal Value x Floor Area

ZONAL VALUES FROM BIR

DEADLINE

The return shall be filed and the tax paid within (5) days after the close of the month when the taxable document was made, signed, issued, accepted or transferred.

 


FREQUENTLY ASKED QUESTION/S:

Who is required to pay for the Documentary Stamp Tax – the buyer or the seller?

The buyer often shoulders the Documentary Stamp Tax. However, it still depends on the agreement made between the buyer and the seller.

(Source: BIR)

 

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