Form to be Used for the Required Monthly Report on the Documentary Stamps Usage

June 10, 1998 BIR RULING NO. 088-98 000-00-88-98 International Exchange Bank Dharmala Center 142 Amorsolo Street Legaspi Village Makati City Attention: Ms . Myrna S . Javier AVP/Assistant Controller Gentlemen : This refers to your letter dated June 11, 1997 requesting for clarification on the form to be used for the required monthly report on the Documentary Stamps Usage. In reply, please be informed that Revenue Regulations No. 7-92 provides for the procedure on the management of Documentary Stamps metering machines. Under Sec. 4(f) thereof, the authorized taxpayer/user of the Documentary Stamps Metering Machine or his duly authorized representative is required to prepare and submit a monthly summary report on the documentary stamp transactions/loads of the machine to the Chief, Collection Branch of the Revenue Region having jurisdiction over the machine. Furthermore, the report shall contain the cumulative sales and credit balance of the company, the accuracy and validity of which shall be verified by the Chief, Collection Branch or his authorized representative upon its submission. On the other hand, Revenue Memorandum Order No. 21-93 prescribes the uniform guidelines and procedures on documentary stamps metering machines used by the authorized taxpayers pursuant to Revenue Regulations No. 7-92, in relation to Revenue Regulations No. 5-97. The same RMO provides the form (marked as Annex D of the said RMO) to be used for the required monthly summary report on documentary stamp transactions/loads referred to in Sec. 4(f) of Revenue Regulations No. 7-92, photocopy of which is hereto attached for your reference. Very truly yours, (SGD.) LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue