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Republic of the Philippines
Department of Finance
a
BUREAU OF INTERNAL REVENUE wi
National Office ee
Quezon City, .
April 2, 2020
REVENUE MEMORANDUM CIRCULAR NO. 35-2020
SUBJECT: Exemption from Documentary Stamp Tax (DST) for Relief for Loans
pursuant to Revenue Regulations No. 8 - 2020 dated April 1, 2020
TO: ALL INTERNAL REVENUE OFFICERS, TAXPAYERS AND OTHERS
CONCERNED
Pursuant to the provisions of Section 244 of the National Internal Revenue Code
(NIRC), Revenue Regulations No. 8 - 2020 dated April 1, 2020 was issued implementing
Section 4(aa) and (n) of R.A. No. 11469, otherwise known as “Bayanihan to Heal as One
Act”
All banks, quasi-banks, financing companies, lending companies, and other
financial institutions, public and private, including the Government Service Insurance
‘System, Social Security System and Pag-ibig Fund, in extending the grace period for the
payment of all loans shall not impose additional documentary stamp tax (DST) imposed
under Section 179, 195 and 198 of the NIRC, for credit extensions and credit
restructuring, micro-lending including those obtained from pawnshops and extensions
thereof during the covered period.
Allinternal revenue officers and others concemed are enjoined to give this Circular
as wide a publicity as possible, and that a copy thereof be filed with the Office of the
National Administrative Register (ONAR) of the UP Law Center.
Pao ber
CAESAR R. DULAY
Commissioner of Internal Revenue
033735
