Schools must pay P15
documentary stamp tax for each diploma, official transcript given to
students, BIR says
By Philippine Information Agency (PIA 8)
TACLOBAN CITY – As
the time for students to enroll to higher institutions or to transfer
in other school comes, the Bureau of Internal Revenue is reminding all
schools to pay the documentary stamps.
Each diploma and
official transcript of records given to students must have documentary
stamp which costs P15, the BIR said.
documentation issued by these schools including certifications,
transcripts and other records, are subject to the
DST pursuant to Section 188 of the Tax Code.
Documentary Stamp Tax
is defined as a tax on documents, instruments, loan agreements and
papers evidencing the acceptance, assignment, sale or transfer of an
obligation, right or property incident thereto.
The untaxed document
will not be recorded, nor will it or any copy thereof or any record of
transfer of the same be admitted or used in evidence in court until
the requisite stamp or stamps have been affixed thereto and cancelled.
No notary public or
other officer authorized to administer oaths will add his jurat or
acknowledgment to any document subject to Documentary Stamp Tax unless
the proper documentary stamps are affixed thereto and cancelled.
In line with its tax
information campaign under "Making the Public Know" initiative, BIR
Commissioner Joel Tan-Torres is appealing to all primary, secondary
and tertiary schools to comply with this tax obligation.
requesting for certifications, transcript of records and other
official documents must see to it that they pay the documentary stamp