RMC No. 31-2010: Prescribes the use of the new Documentary Stamp Tax to be affixed to taxable documents of taxpayers mandated to use the Electronic Documentary Stamp Tax System

Key points

1. New stamp. The new stamp, with features specified in the Circular, is used effective January 2010.
2. Constructive Stamping/Receipt System. Taxpayers who still cannot comply with the eDST System may use the Constructive Stamping/Receipt System (CS/RS) under RMC No. 24-2010, which defers full implementation of the system until June 30, 2010.
3. How DST is affixed under CS/RS. The taxpayer attaches the Documentary Stamp Tax Declaration Return (BIR Form 2000) and the duly issued Confirmation Receipt/Deposit Slip by the Authorized Agent Bank to the taxable document.

Who is affected

• Taxpayers mandated to use the eDST System
• Taxpayers using the CS/RS

Deadlines and effectivity

• New stamp used effective January 2010
• eDST full implementation deferred until June 30, 2010