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
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
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)
