Taxation Notes
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Other Percentage Tax, DST, EXCISE
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OTHER PERCENTAGE TAX (OPT)
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COVERAGETax BaseTax Rate
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1
Persons exempt from VAT (Sec. 116)
Gross sales or receipts3%
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Domestic carriers and keepers of garages (Sec. 117)
Gross receipts3%
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Minimum quarterly gross receipts
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Jeepney for hire
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Manila and other cities2,400
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Provincial1,200
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Public utility bus
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Not exceeding 30 passengers3,600
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Over 30 but not 506,000
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Over 50 passengers7,200
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Taxis
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Manila and other cities3,600
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Provincial2,400
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Car for hire
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With chauffeur3,000
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Without chauffeur1,800
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International air and shipping carriers doing business in the Philippines (Sec. 118)
Gross receipts 3%
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Franchise grantees (Sec. 119)

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aGas and water utilitiesGross receipts2%
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bRadio and television broadcasting companies Gross receipts3%
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Overseas dispatch, message or conversation originating from the Philippines (Sec. 120)
Amount paid for the service10%
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Exempt
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aDiplomatic services
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bInternational organizations
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cNews agencies or services
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dGovernment
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Banks and non-bank financial intermediaries performing quasi-banking functions (Sec. 121)
Gross receipts or income
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a
Interest, commissions, and discounts from lending activities and financial leasing
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• If the maturity period is five (5) years or less5%
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• If the maturity period is more than five (5) years1%
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b
Dividends and equity shares and net income of subsidiaries
0%
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c
Royalties, rentals of property, real or personal, profits from the exchange and all other items
7%
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treated as gross income under Sec. 32 of the Tax Code
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d
Net trading gains within the taxable year of foreign currency, debt securities, derivatives,
7%
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and other similar financial instruments
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Other non-bank financial intermediaries (Sec. 122)
Gross receipts or income
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a
Interest, commissions, discounts and all other items treated as gross income under the Tax Code
5%
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b
Interest, commissions, discounts from lending activities and financial leasing
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• If the maturity period is five (5) years or less5%
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• If the maturity period is more than five (5) years1%
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Life insurance premiums (Sec. 123)
Total premiums collected2%
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Exempt
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a
Premiums refund within six (6) months after payment on account of rejection of risk or
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returned for other reasons
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bReinsurance premiums
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c
Premiums from life insurance of non-residents received from abroad by branches of
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domestic corporation, firm or association doing business outside the Philippines
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d
Excess of premiums on variable contracts in excess of the amounts necessary
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to insure the lives of the variable contract owners
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9Agents of foreign insurance companies (fire/marine or miscellaneous insurance) (Sec. 124)
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a
Agents of Non-resident foreign corporations engaged in insurance business
Total premiums collected4%
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b
Owners of property obtaining insurance directly with foreign insurance companies
Total premiums paid5%
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Amusement taxes (Sec. 125)
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Liable: proprietor, lessee or operator of the following:
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aPlace for boxing exhibitions*Gross receipts10%
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bPlace for professional basketball gamesGross receipts15%
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cCockpits, cabarets, night or day clubsGross receipts18%
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dJai-alai and racetracksGross receipts30%
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*Requisites for exemption of boxing exhibitions
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a) World or oriental championship is at stake
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b) One of the contenders is a citizen of the Philippines
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c) Promoted by citizens of the Philippines or by a corporation or association at least 60%
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of the capital of which is owned by such citizen
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Tax on winnings (Sec. 126)
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aOwner of the winning horsePrize or winnings10%
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