BIR Ruling No. 052-61
BIR Ruling No. 052-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jan 27, 1961
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January 27, 1961 BIR RULING NO. 052-61 In reply to the query contained in your letter dated . . ., I have the honor to inform you that the proceeds of life insurance policy taken on the life of your client, Mr. Enrique Zobel, purportedly to answer for the payment of the estate and inheritance taxes which may be levied or assessed against his estate and the inheritance of his heirs, in the event that he dies, shall constitute part of his gross estate subject to the estate and inheritance tax, pursuant to Sections 85, 86 and 88(e) of the Tax Code. aisadc
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