Clarification on the Reckoning Period for the Payment of DST on Original Issue of Shares of Stocks

May 29, 2019 REVENUE MEMORANDUM CIRCULAR NO. 056-19 SUBJECT : Clarification on the Reckoning Period for the Payment of Documentary Stamp Tax (DST) on Original Issue of Shares of Stocks TO : All Internal Revenue Officials, Employees and Others Concerned It has been observed that Revenue District Offices have different practices in the imposition of late penalty on the payment of Documentary Stamp Tax (DST) on original issue of shares of stocks of new corporations. This Circular is being issued to reiterate the reckoning period for the payment of DST on the original issue of shares of stocks of new corporations pursuant to Revenue Memorandum Order No. 8-98. AIDSTE New corporations shall file the DST declaration/return (BIR Form No. 2000) on original issue of shares of stocks and pay the tax due thereon, within five (5) days after the close of the month of the date of registration with the Securities and Exchange Commission as shown in the Certificate of Incorporation/Certificate of Recording/License to Do Business in the Philippines. Hence, penalty for late payment of DST declaration/return on original issue of shares of stocks shall accrue if paid beyond said due time. All internal revenue officers and employees are hereby enjoined to give this Circular a wide publicity as possible. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue