RMC No. 56-2019: Clarifies the reckoning period for the payment of Documentary Stamp Tax on original issue of shares of stocks

Summary

RMC No. 56-2019 restates the reckoning period for paying Documentary Stamp Tax (DST) on the original issue of shares of stocks of new corporations.

Key points

1. Filing and payment period. New corporations file the DST declaration/return (BIR Form No. 2000) on the original issue of shares and pay the tax within five (5) days after the close of the month of registration with the Securities and Exchange Commission. The registration date is the one shown in the Certificate of Incorporation, Certificate of Recording or License to Do Business in the Philippines.
2. Late payment penalty. Penalty for late payment accrues if the DST is paid beyond that due time.

Who is affected

• New corporations issuing shares of stocks

Deadlines and effectivity

• Within five (5) days after the close of the month of SEC registration

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.