Section 1.
Section two hundred twelve of Commonwealth Act Numbered Four hundred
sixty-six, as amended by section two of Republic Act Numbered Forty, is
hereby further amended to read as follows:
"Sec. 212. Stamp tax on original issue of
certificates of stock. — On every original issue, whether on
organization, reorganization or for any lawful purpose, of certificates
of stock by any association, company, or corporation, there shall be
collected a documentary stamp tax of fifty centavos on each two hundred
pesos or fractional part thereof, of the par value of such
certificates: Provided, That in the case of the original issue of stock
without par value, the amount of the documentary stamp tax herein
prescribed shall be based upon the actual consideration received by the
association, company, or corporation of the issuance of such stock, and
in the case of stock dividends, on the actual value represented by each
share."
Sec. 2. Section two hundred and thirteen of
Commonwealth Act Numbered Four hundred and sixty-six, as amended by
section three of Republic Act Numbered Forty, is hereby further amended
to read as follows:
"Sec. 213. Stamp tax on sales, agreements to sell,
memoranda of sales, deliveries or transfer of bonds, due-bills,
certificates of obligation, or shares or certificates of stock. — On
all sales, agreements to sell, or memoranda of sales, or deliveries, or
transfer of bonds, due-bills, certificates of obligation, or shares or
certificates of stock, in any association, company or corporation, or
transfer of such securities by assignment in blank, or by delivery, or
by any paper, or agreement, or memorandum or other evidences of
transfer or sale whether entitling the holder in any manner to the
benefit of such bonds, due-bills, certificates of obligation or stock,
or to secure the future payment of money, or for the future transfer of
any bond, due-bill, certificate of obligation or stock, there shall be
collected a documentary stamp tax of ten centavos on each two hundred
pesos, of fractional part thereof, of the par value of such bond,
due-bill, certificates of obligation or stock: Provided, That only one
tax shall be collected on each sale or transfer of stock or securities
from one person to another, regardless of whether or not a certificate
of stock or obligation is issued, indorsed, or delivered in pursuance
of such sale or transfer: And provided, further, That in case of stock
without par value the amount of the documentary stamp tax herein
prescribed shall be equivalent to twenty per centum of the documentary
stamp tax paid upon the original issue of said stock."
Sec. 3. Section two hundred and twenty-six of
Commonwealth Act Numbered Four hundred and sixty-six, as amended by
section fifteen of Republic Act Numbered Forty, is hereby further
amended, to read as follows:
"Sec. 226. Stamp tax on warehouse and hotel
receipts. — (a) On each warehouse receipt for property held in storage
in a public or private warehouse or yard for any other person than the
proprietor of such warehouse or yard himself, there shall be collected
a documentary stamp tax of thirty centavos: Provided, That no tax shall
be collected on each warehouse receipt issued to any one person in any
one calendar month covering property the value of which does not exceed
two hundred pesos.
"(b) On each hotel receipt issued by keepers of
hotels or lodging houses to a guest for lodging, there shall be
collected a documentary stamp tax of fifty centavos on each twenty
pesos of fractional part thereof."
Sec. 4. Section two hundred and twenty-eight of
Commonwealth Act Numbered Four hundred and sixty-six, as amended by
section seventeen of Republic Act Numbered Forty, is hereby further
amended to read as follows:
"Sec. 228. Stamp tax on passage tickets. — On each
passage ticket, whether a single fare or return ticket, or any receipt
for money paid for the passage of a person on any vessel or other means
of transportation other than a vessel or other means of transportation
belonging to the Government of the Republic of the Philippines from any
port or place in the Philippines to any port or place in any foreign
country, there shall be collected a documentary stamp tax at the
following rates:
"(a) If said passage costs not more than sixty pesos
seven pesos and fifty centavos.
"(b) If said passage costs more than sixty pesos and
not more than one hundred and twenty pesos, twelve pesos.
"(c) If said passage costs more than one hundred and
twenty pesos and not more than two hundred and fifty pesos, fifteen
pesos.
"(d) If said passage costs more than two hundred and
fifty pesos and not more than five hundred pesos, thirty pesos.
"(e) If said passage costs more than five hundred
pesos and not more than one thousand pesos, fifty pesos.
"(f) If said passage costs more than one thousand
pesos, one hundred pesos."
Sec. 5. Section two hundred and thirty-two of
Commonwealth Act Numbered Four hundred and sixty-six, as amended by
section twenty-one of Republic Act Numbered Forty, is hereby further
amended to read as follows:
"Sec. 232. Stamp tax on mortgages, pledges, and
deeds of trust. — On every mortgage or pledge of lands, estate, or
property, real or personal, heritable or movable, whatsoever, where the
same shall be made as a security for the payment of any definite and
certain sum of money lent at the time or previously due and owing or
forborne to be paid being payable, and on any conveyance of land,
estate, or property, whatsoever, in trust or to be sold, or otherwise
converted into money, which shall be and intended only as security,
either by express stipulation or otherwise, there shall be collected a
documentary stamp tax at the following rates:
"(a) When the amount for which the mortgage or deed
or trust is given exceeds one thousand pesos and does not exceed three
thousand pesos, one peso and fifty centavos.
"(b) On each three thousand pesos or fractional part
thereof in excess of three thousand pesos, an additional tax of one
peso and fifty centavos.
"On any mortgage, pledge, or deed of trust, where the same shall be
made as a security for the payment of a fluctuating account or future
advances without fixed limit, the documentary stamp tax on such
mortgage, pledge or deed of trust shall be computed on the amount
actually loaned or given at the time of the execution of the mortgage,
pledge or deed of trust. However, if subsequent advances are made on
such mortgage, pledge or deed of trust, additional documentary stamp
tax shall be paid which shall be computed on the basis of the amount
advanced or loaned at the rates specified above: Provided, however,
That if the full amount of the loan or credit granted under the
mortgage, pledge, or deed of trust, the documentary stamp tax
prescribed in this section shall be paid and computed on the full
amount of the loan or credit granted."
Sec. 6. Section two hundred and thirty-three of
Commonwealth Act Numbered Four hundred and sixty-six, as amended by
section twenty-two of Republic Act Numbered Forty, is hereby further
amended to read as follows:
"Sec. 233. Stamp tax on deeds of sale and
conveyances of real property. — On all conveyances, deeds, instruments
or writings, other than grants, patents, or original certificates of
adjudication issued by the Government, whereby any lands, tenements, or
other realty sold shall be granted, assigned, transferred or otherwise
conveyed to the purchaser or purchasers, or to any other person or
persons designated by such purchaser or purchasers, there shall be
collected a documentary stamp tax at the following rates:
"(a) When the consideration, or value received or
contracted to be paid for such realty, after making proper allowance of
any encumbrance, exceeds two hundred and does not exceed one thousand
pesos, seventy-five centavos.
"(b) For each additional one thousand pesos, or
fractional part thereof in excess of one thousand pesos of such
consideration or value, three pesos.
"When it appears that the amount of the documentary stamp tax payable
hereunder has been reduced by an incorrect statement of the
consideration in any conveyance, deed, instrument, or writing subject
to such tax, the Collector of Internal Revenue, provincial or city
treasurer, or other revenue officer shall, from the assessment rolls,
or other reliable source of information, assess the property at its
true market value and collect the proper tax thereon."
Sec. 7. This Act shall take effect upon its
approval but, unless otherwise expressly extended by Congress, the
increased taxes provided for in this Act shall continue in force and
effect only until December 31, 1952, after which period the actual
rates of taxes shall again be in force.
Approved: August 31, 1950
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