Amending Certain Sections of the National… Section 342
Amending Certain Sections of the National… Section 342
Disposition of proceeds of insurance premium fax.
Section 342
SEC. 342. Disposition of proceeds of insurance premium fax.—Twenty-five per centum of the premium tax collected Under Section two hundred and sixty-three of this Code shall accrue to the Insurance Fund (as contemplated in Section four hundred and eighteen of Presidential Decree numbered six hundred and twelve) which shall be used for the purpose of defraying the expenses of the Insurance Commission. The Commissioner of Internal Revenue shall turn over and deliver the said Insurance Fund to the Insurance Commission as soon as the collection is made.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026
CitationAmending Certain Sections of the National… Section 342 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
