The Philippine President signed Republic Act 9648 into law, which permanently removes the documentary stamp tax on the secondary trading of shares in the Philippine Stock Exchange. The documentary stamp tax is a P 0.75 tax imposed on every P200 par value on the secondary trading of shares of stocks. This was done to encourage investors to invest their money in the local stock market.

When trading in the Philippine Stock Market, investors will have to pay a plethora of charges, duties and taxes, so the removal of the documentary tax was a welcome respite.
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