Pedro wants to procure fire insurance for his Mansion in Forbes Park, Makati from Gallaxy Insurance Company, a non-resident foreign corporation, through its agent in the Philippines, G.I. Joe. He paid premiums in 2018 amounting to P500,000. How much is the premiums tax payable on the transaction? 

Answer rating: 100% (QA)

Solution The premiums tax payable on the transaction would be 12 o... View the full answer