Bail Bonds Filed by Insurance Companies is Subject to the Documentary Stamp Tax
BIR Ruling No. 307-60 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 19, 1960
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July 19, 1960 BIR RULING NO. 307-60 The Clerk of Court Court of First Instance Lingayen, Pangasinan S i r: This is in connection with your letter dated March 15, 1960 addressed to the Insurance Commissioner which was referred to this Office for appropriate action on the query propounded therein. In reply, I have the honor to inform you that bail bonds filed by insurance companies with the Court for the temporary release of an accused person is subject to the documentary stamp tax prescribed in section 222 of the National Internal Revenue Code at the rate of six centavos on each four pesos, or fractional part thereof, of the premium charged. Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue
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