Shortage of Loose Documentary Stamps

December 17, 2007 REVENUE MEMORANDUM CIRCULAR NO. 005-08 SUBJECT : Circularizing the Full Text of Unnumbered Memorandum Dated December 12, 2007 Regarding the Shortage of Loose Documentary Stamps TO : All Revenue Regional Directors, Revenue District Officers, Division Chiefs, and Others Concerned For the information and guidance of all internal revenue officials, employees and other concerned, quoted hereunder is the full text of unnumbered Memorandum dated December 12, 2007 regarding the "Shortage of Loose Documentary Stamps" as follows: CEIHcT "MEMORANDUM TO : Revenue Regional Directors Revenue District Officers Division Chiefs Others Concerned (Original Signed) FROM : LILIAN B. HEFTI Commissioner of Internal Revenue DATE : December 12, 2007 SUBJECT : Shortage of Loose Documentary Stamps In view of the shortage of available loose documentary stamps in the Regional and District Offices, all concerned are hereby advised that if the amount of Documentary Stamp Tax due on a taxable document/transaction is Fifteen Pesos (P15.00) or less taxpayers may purchase documentary stamps from Revenue Collection Officers/Deputized Municipal Treasurers using Accountable Form (AF) No. 51-Official Receipt Form in lieu of the loose documentary stamps until such time that loose documentary stamps are available. DSCIEa The officer receiving the payment for documentary stamp shall indicate on the form for what transaction it will be intended. The certified true copy of the form will be affixed to the taxable document. All other transactions will follow existing procedures." All concerned are hereby enjoined to be guided accordingly and give this circular a wide publicity as possible. AaSTIH (SGD.) LILIAN B. HEFTI Commissioner of Internal Revenue