Short answer. Article 309, as amended by Republic Act No. 10951 in 2017, scales the theft penalty to the value stolen. It runs from a few days of arresto menor for small amounts up to decades of imprisonment for thefts worth millions of pesos, under the current figures, not the older 1930 amounts.
What the law says
Penalties. - Any person guilty of theft shall be punished by: 1. The penalty of prisión mayor in its minimum and medium periods, if the value of the thing stolen is more than One million two hundred thousand pesos (₱1,200,000) but does not exceed Two million two hundred thousand pesos (₱2,200,000); but if the value of the thing stolen exceeds the latter amount, the penalty shall be the maximum period of the one prescribed in this paragraph, and one (1) year for each additional One million pesos (₱1,000,000), but the total of the penalty which may be imposed shall not exceed twenty (20) years.
Revised Penal Code, Article 309 — Penalties For Theft. Read the full provision →
The amended text is what applies today
Article 309 was substantially revised by Republic Act No. 10951, which took effect in 2017. That amendment updated the peso values throughout the Revised Penal Code — the amounts now run into hundreds of thousands and millions of pesos, replacing the original 1930-era figures that have long been obsolete. Many printed copies and online sources still carry the old numbers. A source showing ₱12,000 or ₱22,000 as the upper brackets for theft is reprinting the pre-2017 version. The figures in effect today are those in the 2017 amendment.
The graduated scale under the current law
Article 309 imposes penalties in ascending tiers by value. At the lowest end, theft of property not exceeding ₱500 draws arresto menor in its minimum period or a fine, with a separate rule for thefts committed under hunger or poverty. Theft of amounts over ₱500 up to ₱5,000 draws arresto mayor to its full extent. Values above ₱5,000 and up to ₱20,000 attract arresto mayor to prision correccional minimum. Amounts above ₱20,000 up to ₱600,000 are punished by prision correccional in its minimum and medium periods. Higher bands carry prision correccional medium and maximum, then prision mayor.
High-value theft and the ceiling
The statute provides: theft of more than ₱1,200,000 but not exceeding ₱2,200,000 is punished by prisión mayor in its minimum and medium periods. Above ₱2,200,000, the penalty escalates by one additional year for each additional ₱1,000,000 stolen, but the total term imposed cannot exceed twenty years. Where the cumulative sentence would reach that level, the code designates it as prision mayor or reclusion temporal for purposes of accessory penalties and other provisions.
Special rules for low-value and mitigated theft
Two provisions at the lower end deserve note. If the theft was committed under circumstances of hunger, poverty, or the difficulty of earning a livelihood for the support of the offender's family, and the value does not exceed ₱500, Article 309(8) sets a reduced penalty of arresto menor in its minimum period or a fine not exceeding ₱5,000. Paragraph 7 addresses theft committed in a market, fair, or similar place: if the value does not exceed ₱500 in that context, the penalty is arresto menor or a fine up to ₱20,000. These lighter penalties reflect the legislature's recognition of specific circumstances that reduce culpability.