Monday, October 25, 2021
HomeCustoms & TradeBOC doc stamp tax now costs double in keeping with TRAIN Law

BOC doc stamp tax now costs double in keeping with TRAIN Law

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The Bureau of Customs (BOC) is now charging a higher documentary stamp tax rate of P30 from P15 as prescribed under the Tax Reform for Inclusion and Acceleration (TRAIN) Law. The increased rate has been implemented in BOC’s electronic-to-mobile (e2m) system starting November 14, Management Information System and Technology Group deputy commissioner Jeffrey Ian Dy said in a memo dated Nov 13.

Dy advised examiners “to do SAD (single administrative document) update for all goods declarations that were not processed prior to the system update.”

In another memo dated October 24 and signed October 29, then Customs Commissioner Isidro Lapeña directed all concerned customs offices to implement Section 61 of Republic Act No. 10963 which amends Section 188 of the National Internal Revenue Code, hiking the documentary stamp tax on certificates from P15 to P30.

Other government agencies, such as the Civil Aeronautics Board and the Maritime Industry Authority, have already implemented the higher stamp tax.

Aside from certificates and documents, TRAIN, which took effect on January 1, also doubled the documentary stamp tax for bills of lading or receipts, warehouse receipts, and charter parties and similar instruments.

TRAIN also increased the excise tax on fuel, which has jacked up domestic charges of shipping lines, truckers, and other marine service providers, as fuel accounts for a big share of their operational costs.


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