Republic Acts1 min read
Section 60Sec./Art. 60
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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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