Documentary Stamp Tax on PNB and GSIS Checks

May 14, 1980 BIR RULING NO. 061-80 2nd Indorsement Respectfully returned to the Director, Security Printing Plant, Central Bank of the Philippines, East Avenue, Diliman, Quezon City, the within requests of the Philippine National Bank (PNB) and the Government Service Insurance System (GSIS) for exemption from the payment of documentary stamp tax on the checks issued by them. The PNB, a government-owned corporation, is not exempt from the documentary stamp tax on the checks issued by it. (BIR Ruling No. 127-79) Likewise, although under Section 33 of P. D. No. 1146 which took effect on May 31, 1977, the GSIS is exempt from the documentary stamp on all documents, instruments and papers that it makes, issues, accepts or transfers nevertheless, said exemption has been superseded by Section 23 of P.D. No. 1177 which took effect on July 30, 1977 which is subsequent to P.D. 1146. Accordingly, the GSIS is also subject to documentary stamp tax on the checks issued by it. aisadc EFREN I. PLANA Acting Commissioner