BIR Ruling

March 25, 1969 The Vice-President Guttridge & Chambers, Inc. P.O. Box 389 Manila S i r : This refers to your letter dated December 27, 1968 requesting that you be allowed to adopt a new procedure in the affixture of documentary and science stamps on insurance policies, renewals and endorsement which you issue as General Agents for three insurance companies beginning January 1, 1969, by affixing only the total amount of stamps due on the Statement of Business which you prepare monthly, instead of affixing the said stamps on each and every file copy of the policy, renewal certificate and endorsement. In reply, I have the honor to inform you that to a similar request the Secretary of Finance in his letter dated May 10, 1968 to the American Foreign Insurance Association stated thus: "The procedure in affixing documentary stamp upon documents and papers subject to the documentary stamp tax is governed by Sections 210 and 217 of the National Internal Revenue Code. Until such time as the same is amended or modified, the procedure prescribed therein shall be followed." aisadc In view of the foregoing, your request has to be, as it is hereby, denied. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue