DST transactions covering Jan. 1 to 5, 2018

BIR Tax Advisory)

This Tax Alert is issued to inform all concerned on the use of electronic Documentary Stamp Tax (eDST) system for documentary stamp tax (DST) transactions covering the period January 1 to 5, 2018.

Pursuant to RA 10963 (TRAIN LAW), all DST rates, except on transfer of property and certain insurance policies, were increased effective January 1, 2018.

Pending adjustment of DST rates in the eDST system, all eDST system users are advised to adopt the Constructive Stamping/ Receipt System (CS/RS) of documentary stamp tax for DST transactions for the period January 1 to 5, 2018 that are subject to the new DST rates.

The account balances maintained by eDST users in the said system cannot be utilized in the payment of their DST due on the taxable documents for the said period.

A separate DST declaration/ return (BIR Form No. 2000) shall be filed and paid manually (using eBIR form) or through Electronic Filing and Payment System (EFPS).

Summary of the detailed transactions covered by the said DST payment, and the constructive stamping procedures shall be transmitted to the BIR through email, at victoria.genteroles@bir.gov.ph, copy furnished ma.cristina.dacumos@bir.gov.ph and gina.villasoto@bir.gov.ph, a day after the constructive filing and payment of the DST.