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Tax Rates for Various Industries

The document outlines various percentage taxes that apply to different industries and activities in the Philippines, including taxes on transportation carriers, communication services, utilities, financial institutions, insurance, and gambling. Taxes range from 1% to 30% and are applied to items like gross receipts, premiums collected, interest income, and stock sales. Exemptions from some taxes are provided for government services, international organizations, amateur sports, and certain qualifying boxing events.

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Marionne G
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54 views1 page

Tax Rates for Various Industries

The document outlines various percentage taxes that apply to different industries and activities in the Philippines, including taxes on transportation carriers, communication services, utilities, financial institutions, insurance, and gambling. Taxes range from 1% to 30% and are applied to items like gross receipts, premiums collected, interest income, and stock sales. Exemptions from some taxes are provided for government services, international organizations, amateur sports, and certain qualifying boxing events.

Uploaded by

Marionne G
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Other Percentage Tax

1. Domestic carriers on 3% percentage tax on his gross Cargoes- vatable


transport of PASSENGERS by receipts (whether or not he is By water or sea (passengers or
LAND VAT-registered) cargoes)- vatable
-due quarterly
-aka common carrier’s tax “vatable”
12% if VAT-registered
3% general pt otherwise
2. International carriers owned 3% percentage tax on gross If: Passengers- exempt
by foreign corporations on receipts regardless of the place Domestic carriers international
their transport of where they are actually billed operation- zero rated
cargoes/baggages on outgoing
or outbound flights
3. Overseas dispatch, message 10% overseas communication -this tax dose not apply to:
or conversation tax on receipts Government
Call origin: Philippines diplomatic services
international organizations
enjoying privileges and
News services
4. Franchise of -Radio and TV if the opt to be
*Radio or TV broadcasting Radio & TV- 3% vat registered: irrevocable
coy’s ,gross receipts </=10M Gas and water- 2% on sales
*Gas and Water utilities
5. Bank and Non-bank financial Interest inc Maturity: -interest income: on the basis
Intermediaries performing from lending </=5 yrs- 5% or remaining maturities
quasi-banking functions activities >5yrs- 1% -BSP: exempted from this tax
Dividends and
0%
shares in N.I.
Other items of
7%
gross income
Trading gains
on foreign 7%
currency
Other Financial intermediaries Same with banks except
without quasi-banking functions Other items of gross inc: 5%
6. Tax on life insurance 2% on premiums collected -except purely cooperative
premiums companies
7. Tax on agents of foreign 4%- equal to twice the tax -If: insurance obtained directly
insurance imposed on life insurance from abroad without the
premiums services of an agent: 5%
8. Amusement taxes boxing 10% -amateur basketball games-
basketball 15% vatable
Cockpits, clubs 18% -boxing championship with
Jai alai/ race Filipino contender, 60% of
tracks 30% which is owned by Filipino
citizens - exempt
9. Winnings from horse race or In general 10%
jai-alai Owners 10%
Special bet 4%
10. Sale of Stocks through PSE 6/10 of 1% on gross selling
price

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