Withholding Tax Liability of the Philippine American General Insurance Co., Inc.

December 9, 1960 BIR RULING NO. 525-60 1st Indorsement Returned, thru the Revenue Operations Executive (Assessment), to the Chief, Income tax Division, B.I.R. Manila, the papers bearing on the withholding tax liability of the Philippine American General Insurance Co., Inc. In previous similar cases, he was already duly advised that the collection of the withholding tax liability of domestic and resident-foreign insurance companies on premiums ceded to non-resident foreign insurance companies under the so-called reinsurance treaties executed abroad prior to 1959 may be held in abeyance pending the decision on the representative cases now in court provided that waivers of the statute of limitations are executed by the insurance companies concerned. He is again advised to be guided accordingly. MELECIO R. DOMINGO Commissioner of Internal Revenue