What is Documentary Stamp Tax (DST)

What is Documentary Stamp Tax (DST)

By mindreader Posted in On

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 Forms

BIR Form 2000-OT Documentary Stamp Tax Declaration Return (ONE- TIME TRANSACTIONS)

Tax Rate

Deed of Sale, instrument or writing and Conveyances of Real   Property (except grants, patents or original certificate of the government)
First 1,000
For each additional P1,000 or fractional part thereof in excess   of P1,000
15.00
15.00
1.5%
1.5%
Consideration or Fair Market Value, whichever is higher (if   government is a party, basis shall be the consideration)
Consideration or Fair Market Value, whichever is higher (if   government is a party, basis shall be the consideration)

Procedures

File BIR Form No. 2000 or 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 seller or transferor is registered, for shares of stocks or where the property is located, for real property. In places where there are no AAB, the return will be filed directly with the Revenue Collection Officer or Authorized City or Municipal Treasurer.

One-Time Transaction (ONETT) taxpayers shall mandatorily use the eBIRForms in filing all of their tax returns. They may opt to submit their tax returns manually using the eBIRForms Offline Package in the RDO where the seller or transferor is registered, for shares of stocks or where the property is located, for real property or electronically through the use of the Online eBIRForms System. (Sec. 3(2) RR No. 6-2014)

Submit all documentary requirements and proof of payment to the Revenue District Office having jurisdiction over the place of residence of the seller.

 

Deadlines

The Documentary Stamp Tax return (BIR Form 2000) shall be filed in triplicate (two copies for the BIR and one copy for the taxpayer) within five (5) days after the close of the month when the taxable document was made signed, issued, accepted or transferred; upon remittance by Collection Agents of collection from sale of loose stamps. The Documentary Stamp Tax shall be paid upon filing of the return.

Source: http://www.bir.gov.ph/index.php/tax-information/documentary-stamp-tax.html