Imposition of the Documentary Stamp tax on Insurance Policies
BIR Ruling No. 571-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 24, 1958
Full text
September 24, 1958 BIR RULING NO. 571-58 The Cosmopolitan Insurance Co., Inc. Suite 320 Regina Building Manila Gentlemen : In reply to your letter dated July 28, 1958, I have the honor to inform you that the provisions regarding the imposition of the documentary stamp tax on insurance policies are found in Sections 220 and 221 of the National Internal Revenue Code while those regarding the imposition of the documentary stamp tax on bonds are found in Sections 222 and 224 of the same Code. In this connection, please be further informed that the original insurance as well as the reinsurance policy are subject to the documentary stamp tax imposed in Sections 220 or 221 of the Tax Code, as the case may be. Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.