BIR Ruling No. 098-63

December 16, 1963 BIR RULING NO. 098-63 Mr. Jose Jardeleza Legal Officer Agricultural Credit Administration Iloilo Branch, Iloilo City S i r : This has reference to your letter dated October 21, 1963, requesting exemption from the payment of documentary stamps for documents evidencing the deed of definite sale of properties from the Batad and Balasan FACOMAS in Iloilo. In reply thereto, I have the honor to inform you that while the Agricultural Credit Administration is exempt from the payment of all duties, taxes, levies and fees of whatever nature or kind in the performance of its functions and in the exercise of its powers, pursuant to Section 118 of Republic Act No. 3844, the FACOMAS which are the transferors-vendors are not exempt from the payment of documentary stamp tax. It should be noted that the instruments of sale are made, issued and signed by the transferor-vendors who are liable to pay the documentary stamp tax. Consequently, the Batad and Balasan FACOMAS in Iloilo should affix the correct amount of documentary stamps to the deeds of definite sale of properties before they can the registration of said properties in the Registry of Deeds. cdll Very truly yours, (SGD.) RAMON T. OBEN Acting Commissioner of Internal Revenue