BIR Ruling

March 28, 1969 The Acting President Bankers Association of the Philippines Manila S i r : This is with reference to your letter dated January 10, 1969 in behalf of some of the member banks of the Bankers Association of the Philippines, requesting information on the science stamp tax. prcd In reply thereto, I have the honor to inform you as follows: 1. No science stamp tax is required on a check dated prior to January 1, 1969 although cashed after January 1, 1969, the requirement of the law having been already met, when the required documentary stamp tax was already affixed to the check at the time the checks were issued or executed before January 1, 1969, the date of effectivity of the Science Tax Law. In other words, this law should not be given a retroactive application. 2. As regards the use of a stamp meter to affix the science stamps, the same may be allowed provided a separate meter for this purpose is used and that a permit for the use thereof is secured from this Office. However, the granting and issuance of such permit shall be subject to the same conditions required for the use of a stamp meter for the regular stamps. 3. The jurat portion of an affidavit is considered a certificate issued by a notary public, hence, exempt from the science stamp tax. 4. The blank checks with documentary stamps affixed by the Bureau of Printing with prior approval of the Bureau of Internal Revenue and also blank checks with documentary stamps affixed by the individual banks through documentary stamps machine presently held in inventory by commercial banks are subject to the science tax, since the same are considered not as yet issued or executed. They are mere check forms until issued by the makers thereof. LLphil Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue