Tacloban City, Philippines 0995 398 9482 info@aaccocpas.com
Home › Insights › AAC Tax Code

Insights

AAC Tax Code.

The National Internal Revenue Code of 1997 as it currently stands — consolidated by the firm to carry the TRAIN Law, the CREATE Act, the Ease of Paying Taxes Act, the VAT on Digital Services Act, CREATE MORE, the CMEPA and the amendatory laws in force to 1 August 2026, with a footnote at every provision naming the law that changed it.

Text current as at 1 August 2026. This is an unofficial consolidation prepared by the firm and not the official text of the Code. Repealed provisions are kept, struck through, so that references in earlier records stay traceable.
Download the PDF edition →

The printed edition runs to 240 pages and carries the same text, footnotes and references as the browser below. Every section here shows the page it sits on in that PDF, so a citation taken from the screen matches the one taken from the book.

TITLE VII — DOCUMENTARY STAMP TAX

SEC. 197. Stamp Tax on Charter Parties and Similar Instruments

Page 142 of the PDF edition

On every charter party, contract or agreement for the charter of any ship, vessel or steamer, or any letter or memorandum or other writing between the captain, master or owner, or other person acting as agent of any ship, vessel or steamer, and any other person or persons for or relating to the charter of any such ship, vessel or steamer, and on any renewal or transfer of such charter, contract, agreement, letter or memorandum, there shall be collected a documentary stamp tax at the following rates:

(a) If the registered gross tonnage of the ship, vessel or steamer does not exceed one thousand (1,000) tons, and the duration of the charter or contract does not exceed six (6) months, One thousand pesos (P1,000);340 and for each month or fraction of a month in excess of six (6) months, an additional tax of One hundred pesos (P100.00)341 shall be paid.

(b) If the registered gross tonnage exceeds one thousand (1,000) tons and does not exceed ten thousand (10,000) tons, and the duration of the charter or contract does not exceed six (6) months, Two thousand pesos (P2,000);342 and for each month or fraction of a month in excess of six (6) months, an additional tax of Two hundred pesos (P200)343 shall be paid.

(c) If the registered gross tonnage exceeds ten thousand (10,000) tons and the duration of the charter or contract does not exceed six (6) months, Three thousand pesos (P3,000);344 and for each month or fraction of a month in excess of six (6) months, an additional tax of Three hundred pesos (P300)345 shall be paid.

Amendment notes

  1. TRAIN Law, sec. 70 — amended. The rate had been P500.
  2. TRAIN Law, sec. 70 — amended. The rate had been P50.00.
  3. TRAIN Law, sec. 70 — amended. The rate had been P1,000.
  4. TRAIN Law, sec. 70 — amended. The rate had been P1,500.
  5. TRAIN Law, sec. 70 — amended. The rate had been P1,500.
  6. TRAIN Law, sec. 70 — amended. The rate had been P150.
Book a consultation →
Inquire Call Messenger