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How much is the percentage tax arising from all insurance

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Question - Sef Ty wants financial security against unforeseen events, thus, he pays the premiums on the following insurance products.

Local life insurance with PhilamDeath (20% of premium paid to reinsurer) 20,000

Fire insurance from local insurance business 50,000

Foreign Retirement insurance from an insurance agent 10,000

Foreign direct insurance 15,000

How much is the percentage tax arising from all insurance premiums above?

Reference no: EM133187728

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