BIR Ruling [DA-270-97]

August 11, 1997 BIR RULING [DA-270-97] KEC Philippines, Inc. Greatwall Bldg., 111 Lot 15 Block 20, Phase IV Cavite Economic Zone Rosario Cavite Attention: Mr. Yong Ki Choi General Manager Gentlemen : This refers to your letter dated November 20, 1996 requesting for a ruling on whether the re-issuance of stock certificates under the new corporate name is subject to the documentary stamp tax. It is represented that your corporation is changing its name from NKE PHILIPPINES, INC. to KEC PHILIPPINES, INC.; that no other change in the former Articles of Incorporation is being made; that the change of name will require the re-issuance of stock certificates under the new corporate name to its stockholders without changing their identities and stockholdings; and that the stock certificates re-issued under the new corporate name, KEC Philippines, Inc. will replace and cancel the stock certificates issued under the old corporate name, NKE Philippines, Inc. In reply, please be informed that the re-issuance of stock certificates by KEC Philippines, Inc. under its new corporate name for the purpose of replacing the stock certificates issued to its stockholders under the old corporate name, NKE Philippines, Inc. is not subject to the documentary stamp tax provided the new certificates are issued to the same stockholders and that there are no changes in the face value thereof. (BIR Ruling No. 229-88 dated June 2, 1988) aIHCSA This ruling is being issued on the basis of the foregoing facts as represented. However, if upon investigation, it will be disclosed that the facts are different, then this ruling shall be considered null and void. AEcTaS Very truly yours, (SGD.) SIXTO S. ESQUIVIAS IV OIC, Asst. Commissioner (Legal Service)