BIR Ruling No. 051-65
BIR Ruling No. 051-65 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • May 20, 1965
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May 20, 1965 BIR RULING NO. 051-65 The Insurance Commissioner P. O. Box 3589 M a n i l a S i r : With reference to your letter dated March 18, 1964, I have the honor to inform you that the documentary stamp tax on property insurance is P0.06 on each P4.00 or fractional part thereof, of the premium charged and the same accrues in its entirety at the time the contract becomes binding upon the parties. The 3% premium tax is based on actual premiums collected. aisadc Very truly yours, (SGD.) BENJAMIN N. TABIOS Acting Commissioner of Internal Revenue
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