BIR Ruling No. 034-83
BIR Ruling No. 034-83 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Mar 8, 1983
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March 8, 1983 BIR RULING NO. 034-83 Gentlemen : This refers to your letter dated November 25, 1981 requesting for confirmation of your opinion that the renewal of certificates of deposit drawing interest is not subject to documentary stamp tax. In reply, please be informed that the documentary stamp tax imposed by Section 229 of the Tax Code is not merely on the documents enumerated therein, one of which is the certificate of deposit drawing interest but also on each and every renewal of any such document. (Sec. 44, Regulations No. 26 or the Documentary Stamp Tax Regulations) Accordingly, the renewal of certificate of deposit drawing interest is subject to documentary stamp tax under said Section 229 of the Tax Code. cdti Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner Bureau of Internal Revenue
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