(b) On each three thousand pesos or fractional part thereof excessively out of around three thousand pesos, an additional tax of a single peso and you may fifty centavos.
Section 5. Section two hundred and you can thirty-a couple of Commonwealth Act Numbered 400 and sixty-half a dozen, as amended by area twenty-one of Republic Act Numbered 40, was hereby next revised to read through as follows:
Sec. 232. Stamp income tax towards mortgage loans, promises, and you will deeds off faith.–On each home loan otherwise promise from lands, home, or possessions, actual otherwise individual, heritable or moveable, after all, where same is going to be produced just like the a protection to your fee of every particular and you can certain amount of cash borrowed at enough time or before owed and you can owing otherwise forborne is paid off are payable, and on people conveyance of homes, property, or possessions, at all, within the trust or to feel sold, or otherwise changed into money, and that should be and meant just just like the safeguards, either by the display stipulation or else, around will be compiled an effective documentary stamp income tax in the following rates:
