The 5th Edition of the Philippine Insurance Code Annotated by underwriting consultant Lohel A. Martirez is now available!

The work is based on the Philippine Insurance Code (Presidential Decree No. 612) which was extensively amended by Republic Act no. 10607— and includes universally accepted insurance principles in Life & Non-Life, leading decided cases, and good customs of the industry.

Carefully selected reference materials from various sources both here and abroad were studied and explained, in a manner and style understood on first reading.

Martirez has served the insurance industry for more than five decades in various capacities both in the home offices and the field, as Executive Vice President/ Chief Operating Officer and other previous managerial positions. He was also Annotator of the Supreme Court Reports Annotated (SCRA); Court of Appeals Reports Annotated (CARA); Philippine Reports Annotated (PRA); and as Editorial Staff Member of the Supreme Court Decided Cases Quick Index Digest. All his works are published and distributed by Central Book Supply, Inc. nationwide.

Author Lohel A. Martirez with his youngest daughter Hazel M. Garcia who is also working in the insurance industry.

To order a copy, you may contact Central Books at tel. no. (02) 372-3550 loc. 31 or email

Tips To Avoid Tax Penalties In General

Taxpayers in general have the ideas and tips to avoid tax. Avoiding tax is legal and paying the right taxes on time is  the right way to avoid tax penalties. There are guidelines and tips to avoid tax penalties in general.

Aside from paying of taxes on time, taxpayers and persons who prepares it should have the knowledge first on how to identify the classification of taxes, tax forms to be use, computation of taxes, deadline of tax payments, and place of payment.

Discipline and knowledge are one of the factors to avoid tax and tax penalties. Tax planning and management are also important factors with regards to this. Read daily of the tax updates and tax schedules of revenue regulations as well. If you have time, you can also attend seminars in taxation and learn from the tax experts.

Mastery in Taxation is not attain in just one night but it is a continuous learning process in your daily living. Don’t be afraid of failures because we are not perfect but instead use these failures in achieving success. Communicate and share ideas to fellow associates with regards to this.

There are more ways to avoid or minimize tax and prevention of tax penalties to our work. Hope that my article is useful to taxpayers, accountants and others.