FOURTEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHILIPPINES 
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Second Regular Session 
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S E N A T E  
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COMMITTEE REPORT NO. 322 
Submitted by the Committee on Ways and Means on 
Re: 
S.B. No. __ 
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3203 
Recommending its approval in substitution of H.B. No. 4900 taking into consideration 
S.B. Nos. 2497 and 3006. 
Sponsor: 
Senator Lacson 
MR. PRESIDENT: 
The Committee on Ways and Means to which were referred the following House 
Bill No. 4900, introduced by Representative Angara, Javier, Chatto, et al, entitled: 
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 
Senate Bill No. 2497, introduced by Senator Angara, entitled: 
AN ACT 
EXEMPTING FROM DOCUMENTARY STAMP TAX ANY SALE, 
BARTER OR EXCHANGE OF SHARES OF STOCK LISTED AND 
TRADEDTHROUGHTHE STOCKEXCHANGE,FURTHERAMENDlNG 
FOR THE PURPOSE SECTION 199 OF THE NATIONAL INTERNAL 
REVENUE CODE OF 1997, AS AMENDED BY REPUBLIC ACT NO. 
9243, AND FOR OTHER PURPOSES 
and Senate Bill No. 3006, introduced by Senator Lacson, entitled: 
AN ACT 
EXTENDING FOR ANOTHER THREE YEARS THE EXEMPTION FROM 
DOCUMENTARY STAMP TAX OF THE 
SALE, 
BARTER OR 
EXCHANGE OF SHARES OF STOCK LISTED AND TRADED 
THROUGH THE LOCAL STOCK EXCHANGE, AMENDING FURTHER 
SECTION 199 OF THE NATIONAL INTERNAL REVENUE CODE, AS 
AMENDED 
has considered the same and has the honor to r 
the recommendation that the attached S.B. No. 
entitled: 
bills back to the Senate with 
prepared by the Committee, 


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 approved in substitution of House Bill No. 4900, taking into consideration S.B. Nos. 
2497 and 3006, with Senators Angara and Lacson as authors thereof. 
Respectfully submitted: 
P B * O N  
Corn Ytee n WaysandMeans 
Members: 
! 
GRE~ORIO B. HONASAN II 
~ 
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J ~ K E R  
P. ARROYO 
- 
LOREN B. LEGARDA 
RICHARD J. GORDON 
BENIG %q2 
S.A UlNO 111 
ALLAN COMPAfiERO S. CAYETANO 
MANNY VILLAR 


Ex-Officio Members: 
Pro-Tempore 
Minority Leader 
HON. JUAN PONCE ENRILE 
Senate President 
Pasay City 


FOURTEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHILIPPINES 
) 
Second Regular Session 
1 
S E N A T E  
S. N 0 . 3 2 0 3  
(In substitution of H. No. 4900, taking into consideration S. Nos. 2497 and 300 
~~~~~~~~~ 
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Prepared by the Committee with Senators Angara and Lacson as authors thereof 
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: 
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SECTION 1. Section 199 of the National Internal Revenue Code of 1997. as amended 
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“SEC. 199. Documents and Papers Not Subject to Stamp Tax. - 
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The provisions of Section 173 to the contrary notwithstanding, the 
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following instruments, documents and papers shall be exempt from the 
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documentary stamp tax: 
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“x x x 
by Republic Act No. 9243, is hereby further amended to read as follows: 
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“e. 
Sale, barter or exchange of shares of stock listed and traded 
through the local stock exchange [for a period of five (5) years from the 
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effectivity of this Act].” 
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SEC. 2. lrnplementing Rules and Regulations. - The Secretary of Finance shall 
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promulgate and publish the necessary rules and regulations for the effective 
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amended or modified accordingly. 
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enforcement of the provisions of this Act. 
SEC. 3. Separability Clause. - If any provision of this Act is held unconstitutional 
or invalid, all other provisions not affected thereby shall remain valid. 
SEC. 4. Repealing Clause. - All laws, decrees, executive orders, rules and 
regulations or parts thereof, which are inconsistent with this Act, are hereby repealed, 


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Approved, 
SEC. 5. Effectivity. -This Act shall take effect on March 20, 2009 or immediately 
upon the expiration of the five @)-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.