Deed of Promise to Sell a Parcel of Land in an Installment Plan
BIR Ruling No. 571-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Nov 3, 1959
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November 3, 1959 BIR RULING NO. 571-59 Mr. Benjamin O. Carlos Attorney-at-Law R-214 Alliance Bldg. Rosario, Manila S i r : In reply to your letter dated April 1, 1959, I have the honor to inform you that a deed of promise to sell a parcel of land in an installment plan is not subject to the documentary stamp tax prescribed in section 233 of the National Internal Revenue Code. The acknowledgment is, however, subject to the 30-centavo documentary stamp tax prescribed in section 225 of the Tax Code. In this connection, please be further informed that the final deed of sale which vests title on the vendee is subject to the documentary stamp tax prescribed in section 233 of the Tax Code. Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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