Republic of the Philippines
Congress of the Philippines
Metro ManilaFourteenth Congress
Second Regular SessionBegun and held in Metro Manila, on Monday, the twenty-eight day of July, two thousand eight.
Republic Act No. 9648 June 30, 2009
AN ACT EXEMPTING FROM DOCUMENTARY STAMP TAX ANY SALE, BARTER OR EXCHANGE OF SHARES OF STOCK LISTED AND TRADED THROUGH THE STOCK EXCHANGE, FURTHER AMENDING FOR THE PURPOSE SECTION 199 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED BY REPUBLIC ACT NO. 9243, AND FOR OTHER PURPOSES
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::
Section 1. Section 199 of the National Internal Revenue Code of 1997, as amended by Republic Act No. 9243, is hereby further amended to read as follows:
"SEC. 199. Documents and Papers Not Subject to Stamp Tax. - The provisions of Section 173 to the contrary notwithstanding, the following instruments, documents and papers shall be exempt from the documentary stamp tax:
"x x x
"(e) Sale, barter or exchange of shares...
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Republic Acts
AN ACT EXEMPTING FROM DOCUMENTARY STAMP TAX ANY SALE
Republic Act No. 9648
Summary of Republic Act No. 9648
Exemption from Documentary Stamp Tax for Stock Exchange Transactions
- Section 1 amends Section 199 of the National Internal Revenue Code of 1997, as amended by Republic Act No. 9243, to exempt the following from documentary stamp tax:
- The sale, barter, or exchange of shares of stock listed and traded through the local stock exchange. (Section 1)
Implementation and Enforcement
- The Secretary of Finance shall promulgate and publish the necessary rules and regulations for the effective enforcement of this Act. (Section 2)
Separability Clause
- If any provision of this Act is held unconstitutional or invalid, all other provisions not affected shall remain valid. (Section 3)
Repealing Clause
- All laws, decrees, executive orders, rules and regulations, or parts thereof, which are inconsistent with this Act, are hereby repealed, amended, or modified accordingly. (Section 4)
Effectivity
- This Act shall take effect on March 20, 2009, or immediately upon the expiration of the five (5)-year exemption from the documentary stamp tax on the sale, barter, or exchange of shares of stock listed and traded through the local stock exchange pursuant to Republic Act No. 9243. (Section 5)
Exemption from Documentary Stamp Tax for Stock Exchange Transactions
- Section 1 amends Section 199 of the National Internal Revenue Code of 1997, as amended by Republic Act No. 9243, to exempt the following from documentary stamp tax:
- The sale, barter, or exchange of shares of stock listed and traded through the local stock exchange. (Section 1)
Implementation and Enforcement
- The Secretary of Finance shall promulgate and publish the necessary rules and regulations for the effective enforcement of this Act. (Section 2)
Separability Clause
- If any provision of this Act is held unconstitutional or invalid, all other provisions not affected shall remain valid. (Section 3)
Repealing Clause
- All laws, decrees, executive orders, rules and regulations, or parts thereof, which are inconsistent with this Act, are hereby repealed, amended, or modified accordingly. (Section 4)
Effectivity
- This Act shall take effect on March 20, 2009, or immediately upon the expiration of the five (5)-year exemption from the documentary stamp tax on the sale, barter, or exchange of shares of stock listed and traded through the local stock exchange pursuant to Republic Act No. 9243. (Section 5)