NBI to raise clearance fee to P130 starting March 12
“The public is hereby advised that effective March 12, 2018, the NBI will be charging a fee of P130 per clearance certificate from the original P115 to comply with the DST rate adjustment,” the NBI said. File photo
MANILA, Philippines — The National Bureau of Investigation will start collecting a higher fee for clearance certificates following the enactment of a new tax law that raises documentary stamp tax (DST) rate.
“The public is hereby advised that effective March 12, 2018, the NBI will be charging a fee of P130 per clearance certificate from the original P115 to comply with the DST rate adjustment,” the NBI said.
The Bureau of Internal Revenue defines DST as "a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto."
Last year, President Rodrigo Duterte signed Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Act into law, which aims to generate revenue to fund a multibillion-dollar infrastructure program that is central to the government's economic agenda.
The TRAIN law took effect last January 1. — Ian Nicolas Cigaral
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