Republic of the Philippines
Congress of the Philippines

Metro Manila

Fourteenth Congress
Second Regular Session


Begun and held in Metro Manila, on Monday, the twenty-eight day of July, two thousand eight.

Republic Act No. 9648             June 30, 2009

AN ACT EXEMPTING FROM DOCUMENTARY STAMP TAX ANY SALE, BARTER OR EXCHANGE OF SHARES OF STOCK LISTED AND TRADED THROUGH THE STOCK EXCHANGE, FURTHER AMENDING FOR THE PURPOSE SECTION 199 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED BY REPUBLIC ACT NO. 9243, AND FOR OTHER PURPOSES

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::

Section 1. Section 199 of the National Internal Revenue Code of 1997, as amended by Republic Act No. 9243, is hereby further amended to read as follows:

"SEC. 199. Documents and Papers Not Subject to Stamp Tax. - The provisions of Section 173 to the contrary notwithstanding, the following instruments, documents and papers shall be exempt from the documentary stamp tax:

"x x x

"(e) Sale, barter or exchange of shares of stock listed and traded through the local stock exchange."

Section 2. Implementing Rules and Regulations. - The Secretary of Finance shall promulgate and publish the necessary rules and regulations for the effective enforcement of this Act.

Section 3. Separability Clause. - If any provision of this Act is held unconstitutional or invalid, all other provisions not affected thereby shall remain valid.

Section 4. Repealing Clause. - All laws, decrees, executive orders, rules and regulations or parts thereof, which are inconsistent with this Act, are hereby repealed, amended or modified accordingly.

Section 5. Effectivity. - This Act shall take effect on March 20, 2009 or immediately upon the expiration of the five (5)-year exemption from the documentary stamp tax on the sale, barter or exchange of shares of stock listed and traded through the local stock exchange pursuant to Republic Act No. 9243.

Approved,

(Sgd.) JUAN PONCE ENRILE
President of the Senate

(Sgd.) PROSPERO C. NOGRALES
Speaker of the House of Representatives

This Act which is a consolidation of House Bill No. 4900 and Senate Bill No. 3203 was finally passed by the House of Representatives and the Senate on May 26, 2009 and May 25, 2009, respectively.

(Sgd.) EMMA LIRIO-REYES
Secretary of Senate

(Sgd.) MARILYN B. BARUA-YAP
Secretary General
House of Represenatives

Approved: JUN 30 2009

(Sgd.) GLORIA MACAPAGAL-ARROYO
President of the Philippines


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