BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jul 28, 1970
Full text
July 28, 1970 Mr. Zoilo E. Ablaza Chief, Agents Licensing Section Research & Statistics Dept. The Insular Life Assurance Company, Ltd. Insular Life Building 6781 Ayala Avenue, Makati Rizal S i r : With reference to your letter dated May 29, 1970, I have the honor to inform you that occupation tax payable by insurance agents and sub-agents are imposed only on natural persons. (Section 5, Reg. No. 53, Dept. of Finance; BIR Rulings dated May 24, 1955 & February 21, 1958). Accordingly, a general agency representing an insurance company is not subject thereto. Only its officials or employees who actually perform the work of insurance agents or sub-agents are liable to the annual occupation tax of P75.00 prescribed by Section 182(B) (1) of the Tax Code, as amended by Republic Act No. 6110. cdt Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue
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