BIR issues rule on sale, bonding of documentary stamps

Quick Summary:

THE Bureau of Internal Revenue (BIR) has issued guidelines on the proper sale and affixture of loose documentary stamps in the agency’s attempt to plug tax leakages and stop the prevalent trade of fake stamps in online and physical stores.

Information such as the name and address of the taxpayer, number of stamps to be purchased, purpose of stamps and name of the document shall be included in the letter.

This is to ensure that the amount of the daily proceeds from the sale of loose documentary tax stamps are recorded to the BIR’s systems.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Stamp Shall Taxable Loose Revenue Document Stamps System Documentary Documents Edst

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 16:07:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 494 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22299418

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 26 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 9 hours ago

Coverage Areas: Philippines

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