Can I read RMC No. 36-2020 - Further Clarification On The Exemption From DST Relief For Qualified Loans on EtoBox?

RMC No. 36-2020 - Further Clarification On The Exemption From DST Relief For Qualified Loans by Jane Dela Serna is a document available to read on EtoBox.

What is RMC No. 36-2020 - Further Clarification On The Exemption From DST Relief For Qualified Loans about?

Revenue Memorandum Circular No. 36-2020 clarifies the exemption from Documentary Stamp Tax (DST) for qualified loans during the Enhanced Community Quarantine (ECQ) due to COVID-19. It outlines the tax treatment for credit extensions and restructuring, stating that new loan principals and certain extensions will not incur DST. Financial institutions are required to submit a summary of pre-existing loans with granted extensions within 60 days after the lifting of the ECQ, or face penalties for non-compliance.

Author

Jane Dela Serna

Language

EN