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RMO No. 48-99: Amends RMO No. 66-98 relative to the processing and monitoring of tax payments from insurance companies

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Summary

RMO No. 48-99 amends paragraph III (C)(5)(B)(iii)(a) of RMO No. 66-98 on processing and monitoring tax payments from insurance companies.

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Key points

  1. New wording. The paragraph now covers Documentary stamp tax paid monthly on gross premiums charged for the month by non-life insurance companies in all lines of business.
  2. Reason. The amendment avoids erroneous monitoring of Documentary Stamp Tax payments by insurance companies on non-life insurance contracts.

Who is affected

  • Non-life insurance companies

Deadlines and effectivity

  • Documentary stamp tax: monthly

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances (1)

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CitesRMO No. 66-98

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.