Republic Acts1 min read
Section 7Sec./Art. 7
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Section 183 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:
"SEC. 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 documentary stamp tax of Fifty centavos (P0.50) on each Two hundred pesos (P200), or fractional part thereof, of the amount of premium collected."
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