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    Tax Rates

    Uploaded by

    Salma Gurar
    This document outlines tax rates and exemptions for various types of entities in the Philippines. It provides tax rates for corporations, non-profit organizations, government-owned and controlled corporations, international carriers, and more. Some key points include a 30% tax on total income for most corporations, lower rates for non-profit educational and hospital institutions, and exemptions from tax for certain labor, agricultural, charitable, and mutual organizations.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Tax Rates

    Uploaded by

    Salma Gurar
    61 views2 pages
    This document outlines tax rates and exemptions for various types of entities in the Philippines. It provides tax rates for corporations, non-profit organizations, government-owned and controlled corporations, international carriers, and more. Some key points include a 30% tax on total income for most corporations, lower rates for non-profit educational and hospital institutions, and exemptions from tax for certain labor, agricultural, charitable, and mutual organizations.

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    Tax Rates

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    tax rates

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    This document outlines tax rates and exemptions for various types of entities in the Philippines. It provides tax rates for corporations, non-profit organizations, government-owned and controlled corporations, international carriers, and more. Some key points include a 30% tax on total income for most corporations, lower rates for non-profit educational and hospital institutions, and exemptions from tax for certain labor, agricultural, charitable, and mutual organizations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    61 views2 pages

    Tax Rates

    Uploaded by

    Salma Gurar
    This document outlines tax rates and exemptions for various types of entities in the Philippines. It provides tax rates for corporations, non-profit organizations, government-owned and controlled corporations, international carriers, and more. Some key points include a 30% tax on total income for most corporations, lower rates for non-profit educational and hospital institutions, and exemptions from tax for certain labor, agricultural, charitable, and mutual organizations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Factor DC RFC NRFC

    All Non- GOCC All Intl OBU Remit. ROHQ All Cinem Owner/ Owner/
    corporati Profit (xcept corporat carrier to /Multin corporat atogra Lessor Lessor
    on not Educatio GSIS, ion not branch ational ion not phic of of
    specially nal SSS, speciall s speciall Owne vessels Aircraft,
    mentione /Hospital PHIC, y y r/Less charter machine
    d WaterDis mention mention or/ ed by , equip
    t, PCSO) ed ed dist. Phil
    Nals
    Sources of income W/in & W/out W/in W/in

    Any income not specially 30% x TI 10% x 30% x TI 30% x 2.5% 10% x 15% x 10% x 30% x 25% x 4.5% x 7.5% x
    mentioned TI# TI on GI$ Total TI GI GI Gross Gross
    Gross profits rentals rentals
    Billin
    gs
    15% x GI 15% x GI
    * *
    2% of 2% of 2% of
    GI** GI** GI**
    Final Tax rates
    Interest on bank deposit 20% 20% 20% 20% 20%
    Interest on EFC 7.5% 7.5% 7.5% 7.5%
    Intercorporate dividend Exempt Exempt Exempt Exempt 15%^
    Capital Gains on shares of 5% on 5% on 5% on 5% on 5% on
    stock (not traded) 100,000 100,000 100,000 100,000 100,000
    & 10% & 10% & 10% & 10% & 10%
    on the on the on the on the on the
    excess excess excess excess excess
    Capital gains from sale of 6% 6% 6%
    land/Bldg

    *That there is: 1) tax effort of 20% of GNP


    2) 40% of income tax to total tax revenue
    3)VAT effort of 4& of GNP
    4) 0.9% of CPublicSectorFP to GNP
    And that the firm claiming it has COGS which does not exceed 55% of gross sales and receipts
    #Provided that the educational/hospital institutions income from unrelated business does not exceed 50% of the gross income from related
    **On the beginning of the 4th year of the corporation and that the MCIT is higher than the regular tax.

    GI = Sales (sales return+discount+allowances) COGS

    Income derived by a bank under the EFC = 10%

    $ Any income of nonresidents (individuals/corporations) with OBU shall be exempt

    ^ That the country of the NRFC allow a credit against the tax due from the NRFC

    Exemptions from Tax:

    1. Labor, agricultural or horticultural org. not for profit


    2. Mutual savings bank w/o profit
    3. A beneficiary society, association, operating for the exclusive benefits of members
    4. Cemetery company owned for its members
    5. Nonstock corporation/association organized for charitable
    6. Business league, chamber of commerce, or board of tradenot for profit
    7. Civic league/org not for profit but for social welfare
    8. Nonstick and nonprofit educational institution
    9. Government educational institution
    10. Farmer/other mutual typhoon or fire insurance, cooeperative telephone company..which income consists solely of assessments, dues and
    fees
    11. Farmers, fruit growers

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