April 3, 2020
REVENUE MEMORANDUM CIRCULAR NO. 036-20
| SUBJECT | : | Further Clarification on the Exemption from Documentary Stamp Tax (DST) Relief for Qualified Loans Pursuant to Revenue Regulations No. 8-2020 Dated April 1, 2020 and Revenue Memorandum Circular No. 35-2020 dated April 2, 2020 |
| TO | : | All Internal Revenue Officers and Others Concerned |
A. BACKGROUND
In line with the national policy articulated in Republic Act (R.A.) No. 11469, otherwise known as the "Bayanihan to Heal as One Act" to mitigate the transmission of COVID-19, mobilize assistance in the provision of basic necessities to affected persons, undertake a program for recovery and rehabilitation, ensure sufficient, adequate and readily available funding and promote and protect the collective interests of all Filipinos in these challenging times, among others, and the power granted to the President to direct all banks, quasi-banks, financing companies, lending companies, and other financial institutions, public and private, including the Government Service Insurance System, Social Security System and Pag-IBIG Fund, to implement a minimum of a thirty (30)-day grace period for the payment of all...
