Republic Acts1 min read
Section 3Sec./Art. 3
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Section 183 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:
"Section 183. Stamp Tax on Life Insurance Policies. - On all policies of insurance or other instruments by whatever name the same may be called, whereby any insurance shall be made or renewed upon any life or lives, there shall be collected. a one-time documentary stamp tax at the following rates:
If the amount of insurance does not exceed Php 100,000.00
exempt
If the amount of insurance exceeds Php100,000.00 but does not exceed Php300,000.00
Php10.00
If the amount of insurance exceeds Php300,000.00 but does not exceed Php500,000.00
Php25.00
If the amount of insurance exceeds Php500,000.00 but does not exceed Php750,000.00
Php50.00
If the amount of insurance exceeds Php750,000.00 but does not exceed Php1,000,000.00
Php75.00
If the amount of insurance exceeds Php1,000,000.00
Php100.00"
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