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These are the tax on lottery winnings and PCSO prizes, documentary stamp tax, and mining tax. With the implementation of the TRAIN Law, all PCSO lotto prizes are taxed at 20% if the prize exceeds ₱10,000. The documentary stamp tax has been doubled, resulting in stamp taxes ranging from ₱1.50 to ₱3.00.
A 1947 Republic of the Philippines Documentary Revenue 50 Centavos used on a 1949 Proxy document. [1] A 20c revenue stamp of the Philippines. Governing authorities in the Philippines have issued a variety of stamps for internal revenue taxes and other fiscal taxes since 1856. [2] Prior to 1856, internal revenues were collected via stamped paper.
To strictly enforce the payment of taxes and to further discourage tax evasion, RA No. 233 or the Rewards Law was passed on June 19, 1959 whereby informers were rewarded the 25% equivalent of the revenue collected from the tax evader. In 1964, the Philippines was re-divided anew into 15 regions and 72 inspection districts.
The policy of taxation in the Philippines is governed chiefly by the Constitution of the Philippines and three Republic Acts. Constitution: Article VI, Section 28 of the Constitution states that "the rule of taxation shall be uniform and equitable" and that " Congress shall evolve a progressive system of taxation ".
Real Estate Service Act of the Philippines: 2009-06-30: 9647: Philippine Normal University Modernization Act of 2009: 2009-06-30: 9648: Amending the National Internal Revenue Code of 1997 or RA 8424 : Exempting from Documentary Stamp Tax any Sale, Barter, or Exchange of Shares of Stock Listed and Traded through the Stock Exchange: 2009-07-07: 9649
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Following the occupation of the Philippines by the United States as a result of the Spanish–American War, the American military government issued regular stamps overprinted with the word "Philippines", for postal purposes. Stamps issued on June 30, 1899, were used up to August 1906, when the American civil government that supplanted the ...
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