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Section 60. Section 186 of the NIRC, as amended, is hereby further - Taxation Laws (compiled codal)

Section 60. Section 186 of the NIRC, as amended, is hereby further of Taxation Laws (compiled codal). Section 60. Section 186 of the NIRC, as amended, is hereby further amended to read as follows: "Sec. 186. Stamp Tax on Policies ofAnnuities and P

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Taxation Laws (compiled codal)

Section 60. Section 186 of the NIRC, as amended, is hereby further amended to read as follows:

"Sec. 186. Stamp Tax on Policies ofAnnuities and Pre-Need Plans. - On all policies of annuities, or other instruments by whatever name the same may be called, whereby an annuity may be made, transferred or redeemed, there shall be collected a documentary stamp tax of One peso (₱1.00) on each Two hundred pesos (₱200), or fractional part thereof, of the premium or installment payment on contract price collected. On pre-need plans, the documentary stamp tax shall be Forty centavos (₱0.40) on each Two hundred pesos (₱200), or fractional part thereof of the premium or contribution collected."

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