The Bureau of Internal Revenue, Revenue Region No. 12 in Bacolod City expects to improve tax collection from documentary stamp tax from this month until April due to the graduations from universities, schools, colleges, and other learning institutions, BIR regional director Araceli Francisco said yesterday.

RR12 is strictly and continually monitoring the compliance by all educational institutions in Negros Occidental and Oriental and the island of Siquijor, particularly in the issuance of certificates that are subject to documentary stamp tax, Francisco said.

She said the P15 documentary stamp tax is imposed on the transcript of records, diploma, certificates of moral character, completion, and proficiency, honorable dismissal, special order, and other documents and certifications not otherwise exempt from the documentary stamp tax requirements.

Francisco reminded educational institutions that they are be responsible for the remittance of the stamp tax to the BIR as prescribed under the Title VII of the National Internal Revenue Code.

She also said they have started the surveys in the four revenue district offices 76-Victorias City, 77-Bacolod City, 78-Binalbangan, and 78-Dumaguete City on the number of universities, colleges, and schools and the total number of graduating students in all educational levels.*LTG

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