Taxation Notes

	A	B	C	D	E	G	H
1	Other Percentage Tax, DST, EXCISE
2
3		OTHER PERCENTAGE TAX (OPT)
4
5			COVERAGE			Tax Base	Tax Rate
6		1	Persons exempt from VAT (Sec. 116)			Gross sales or receipts	3%
7
8		2	Domestic carriers and keepers of garages (Sec. 117)			Gross receipts	3%
9
10					Minimum quarterly gross receipts
11				Jeepney for hire
12				Manila and other cities	2,400
13				Provincial	1,200
14
15				Public utility bus
16				Not exceeding 30 passengers	3,600
17				Over 30 but not 50	6,000
18				Over 50 passengers	7,200
19
20				Taxis
21				Manila and other cities	3,600
22				Provincial	2,400
23
24				Car for hire
25				With chauffeur	3,000
26				Without chauffeur	1,800
27
28		3	International air and shipping carriers doing business in the Philippines (Sec. 118)			Gross receipts	3%
29
30		4	Franchise grantees (Sec. 119)
31
32			a	Gas and water utilities		Gross receipts	2%
33
34			b	Radio and television broadcasting companies		Gross receipts	3%
35
36		5	Overseas dispatch, message or conversation originating from the Philippines (Sec. 120)			Amount paid for the service	10%
37			Exempt
38			a	Diplomatic services
39			b	International organizations
40			c	News agencies or services
41			d	Government
42
43		6	Banks and non-bank financial intermediaries performing quasi-banking functions (Sec. 121)			Gross receipts or income
44
45			a	Interest, commissions, and discounts from lending activities and financial leasing
46				• If the maturity period is five (5) years or less			5%
47				• If the maturity period is more than five (5) years			1%
48
49			b	Dividends and equity shares and net income of subsidiaries			0%
50
51			c	Royalties, rentals of property, real or personal, profits from the exchange and all other items			7%
52				treated as gross income under Sec. 32 of the Tax Code
53
54			d	Net trading gains within the taxable year of foreign currency, debt securities, derivatives,			7%
55				and other similar financial instruments
56
57		7	Other non-bank financial intermediaries (Sec. 122)			Gross receipts or income
58
59			a	Interest, commissions, discounts and all other items treated as gross income under the Tax Code			5%
60
61			b	Interest, commissions, discounts from lending activities and financial leasing
62				• If the maturity period is five (5) years or less			5%
63				• If the maturity period is more than five (5) years			1%
64
65		8	Life insurance premiums (Sec. 123)			Total premiums collected	2%
66			Exempt
67			a	Premiums refund within six (6) months after payment on account of rejection of risk or
68				returned for other reasons
69			b	Reinsurance premiums
70			c	Premiums from life insurance of non-residents received from abroad by branches of
71				domestic corporation, firm or association doing business outside the Philippines
72			d	Excess of premiums on variable contracts in excess of the amounts necessary
73				to insure the lives of the variable contract owners
74
75		9	Agents of foreign insurance companies (fire/marine or miscellaneous insurance) (Sec. 124)
76
77			a	Agents of Non-resident foreign corporations engaged in insurance business		Total premiums collected	4%
78
79			b	Owners of property obtaining insurance directly with foreign insurance companies		Total premiums paid	5%
80
81		10	Amusement taxes (Sec. 125)
82			Liable: proprietor, lessee or operator of the following:
83			a	Place for boxing exhibitions*		Gross receipts	10%
84
85			b	Place for professional basketball games		Gross receipts	15%
86
87			c	Cockpits, cabarets, night or day clubs		Gross receipts	18%
88
89			d	Jai-alai and racetracks		Gross receipts	30%
90
91			*Requisites for exemption of boxing exhibitions
92				a) World or oriental championship is at stake
93				b) One of the contenders is a citizen of the Philippines
94				c) Promoted by citizens of the Philippines or by a corporation or association at least 60%
95				of the capital of which is owned by such citizen
96
97		11	Tax on winnings (Sec. 126)
98
99			a	Owner of the winning horse		Prize or winnings	10%
100