Amendment to NIRC Re: Stamp Tax on Bills of Lading or Receipts
Republic Act No. 1980, enacted on June 22, 1957, amends Section 227 of the National Internal Revenue Code regarding the stamp tax on bills of lading and receipts for goods shipped within the Philippines or to foreign ports. The law establishes a tiered documentary stamp tax based on the value of the goods, with rates ranging from six centavos for goods valued over five pesos to one peso and fifty centavos for those exceeding ten thousand pesos. This amendment is effective immediately upon approval. The Act was published in the Official Gazette on November 15, 1957.
Law Information
- Reference Number
- Republic Act No. 1980
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 22, 1957
REPUBLIC ACT NO. 1980
AN ACT TO FURTHER AMEND SECTION TWO HUNDRED TWENTY-SEVEN OF THE NATIONAL INTERNAL REVENUE CODE
SECTION 1. Section two hundred twenty-seven of Commonwealth Act Numbered Four hundred sixty-six, otherwise known as the National Internal Revenue Code, as amended by Republic Act Numbered Forty, is further amended to read as follows:
"Sec. 227. Stamp tax on bills of lading or receipts. — On each set of bills of lading or receipts (except charter party) for any goods, merchandise, or effects shipped from one port or place in the Philippines to another port or place in the Philippines, (except on ferries across rivers) or to any foreign port, there shall be collected a documentary stamp tax of six centavos, if the value of such goods exceeds five pesos and does not exceed two hundred pesos; fifteen centavos, if the value exceeds two hundred pesos and does not exceed one thousand pesos; thirty centavos, if the value exceeds one thousand pesos and does not exceed five thousand pesos; seventy-five centavos, if the value exceeds five thousand pesos and does not exceed ten thousand pesos; and one peso and fifty centavos, if the value exceeds ten thousand pesos."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 22, 1957
Published in the Official Gazette, Vol. 53, No. 21, p. 7617 on November 15, 1957
Cite This Law
Amendment to NIRC Re: Stamp Tax on Bills of Lading or Receipts, Republic Act No. 1980, Jun 22, 1957 (Philippines)
Amendment to NIRC Re: Stamp Tax on Bills of Lading or Receipts, Republic Act No. 1980 (Phil. 1957)
Related Laws
- Amendment to the NIRC Re: Stamp TaxRepublic Act No. 567 • Aug 31, 1950 • Statutes
- Amendments to NIRC Re: Documentary Stamp TaxesRepublic Act No. 40 • Oct 1, 1946 • Statutes
- Rationalizing the Structure and Administration of the Documentary Stamp TaxRepublic Act No. 7660 • Dec 23, 1993 • Statutes
- Tax Reform for Acceleration and Inclusion (TRAIN)Republic Act No. 10963 • Dec 19, 2017 • Statutes
- An Act Rationalizing the Provisions on the Documentary Stamp Tax of the National Internal Revenue Code of 1997, as Amended, and for Other PurposesRepublic Act No. 9243 • Feb 17, 2004 • Statutes
- Rules and Regulations Implementing the Documentary Stamp Tax Rate Adjustment under Republic Act No. 10963, Otherwise Known as the "Tax Reform for Acceleration and Inclusion (TRAIN) Law"Revenue Regulations No. 04-18 • Dec 19, 2017 • Implementing Rules and Regulations
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