Saturday, 27 March 2010

BIR defers eDST system to June 30

Manila Bulletin

The Bureau of Internal Revenue (BIR) has deferred the full implementation of the electronic documentary stamp tax (eDST) system to June 30 this year due to numerous requests and issues raised by the concerned taxpayers who were affected by the system.

In his latest revenue memorandum circular, BIR Commissioner Joel Tan-Torres has emphasized that after June 30, no further request for the deferment of the mandatory use of the eDST system shall be entertained.

eDST is a web-based system in the payment/remittance of DST liabilities and affixture of the prescribed documentary stamp tax on taxable documents, except those expressly exempted by the Commissioner of Internal Revenue, on meritorious grounds as stated in Revenue Regulations (RR) No. 7-2009.

Meanwhile, during the period of deferment, taxpayers who are technically capable of using the system may voluntarily avail of the same.

However, taxpayers who cannot comply with the eDST requirements are advised to use the Constructive Stamping/Receipt System (CS/RS) DST method as stated in RMC 1-2010.

eDST System is set to replace the Documentary Stamp Tax Electronic Imprinting Machine (DSEIM).
Payment of DST arising from the transfer of shares of stocks classified as capital assets or real property classified as ordinary or capital assets is not covered by RR 7-2009.

Prior to enrollment in the eDST system, taxpayers availing themselves of the system shall be duly enrolled under the Electronic Filing and Payment System (eFPS).

Even prior to December 31 last year, currently authorized users of DSEIMs shall already have the option to file an application and shift to the web-based eDST system.
Once enrolled in the eDST system, taxpayers can no longer use their DSEIMs. However, the DSTs that were already loaded in the existing DSEIMs prior to enrollment to eDST may either be utilized until Dec. 31, 2009 or transferred to the eDST system, subject to the conduct of verification by the BIR prior to the transfer.

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