Basis of Documentary Stamps on the Amended Mortgage Contract
BIR Ruling No. 005-69 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 17, 1969
Full text
February 17, 1969 BIR RULING NO. 005-69 The Register of Deeds Vigan, Ilocos Sur M a d a m : This refers to your letter dated August 2, 1968 to the Acting Commissioner, Land Registration Commission, Manila, which was referred to this Office, requesting information as to the correct amount of documentary stamps to be affixed on an amended mortgage contract when the original loan was for P2,400,000.00 with the required documentary stamps affixed and cancelled and the additional amount of the loan was P2,880,000.00 thereby making a total of P5,280,000.00. In reply thereto, I have the honor to inform you that since the corresponding documentary stamps had already been affixed to the original mortgage contract, the basis of the documentary stamps on the amended mortgage contract should be the additional amount of the loan or P2,880,000.00. The amount of documentary stamps to be affixed based on said additional loan is P1,440.00 pursuant to Section 232 of the Tax Code. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.