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(Ex. Liquors) (Ex. Grape Wine) (Ex. Beer) (Ex. Chewing Tobacco)

This document discusses two types of taxes in the Philippines: excise tax and percentage tax. Excise tax is imposed on manufacturers and importers of commodities like alcohol, tobacco, vehicles, and fuel as well as certain medical procedures. Percentage tax is a 3% tax imposed on the sale of goods, properties, services, and transactions performed by carriers, franchises, banks, insurance companies, and agents.

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Nath Bongalon
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53 views1 page

(Ex. Liquors) (Ex. Grape Wine) (Ex. Beer) (Ex. Chewing Tobacco)

This document discusses two types of taxes in the Philippines: excise tax and percentage tax. Excise tax is imposed on manufacturers and importers of commodities like alcohol, tobacco, vehicles, and fuel as well as certain medical procedures. Percentage tax is a 3% tax imposed on the sale of goods, properties, services, and transactions performed by carriers, franchises, banks, insurance companies, and agents.

Uploaded by

Nath Bongalon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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a) Excise tax – a tax on the production, sale or

consumption of a commodity in a country. It is imposed


on:
(1) Manufacturers and importers of:
 Distilled spirits (ex. Liquors)
 Wines (ex. Grape wine)
 Fermented liquors (ex. Beer)
 Tobacco products (ex. Chewing tobacco)
 Cigars
 Cigarettes
 Automobiles
 Yachts and other vessels intended for pleasure
 Manufactured fuel oils (ex. Gasoline, diesel fuel oil,
bunker fuel oil, etc.)
 Mineral products (ex. Gold, silver)
 Non-essential goods (ex. Jewelry, perfumes – there
is an enumeration in the law)
 Sweetened beverages
(2) On sellers of services of:
 Domestic procedures, surgeries, and body
enhancements undertaken for aesthetic reasons
entirely focused on altering enhancing a
patient’s appearance, improving aesthetic
appeal, symmetry and proportion.
b) Percentage tax – business tax imposed on persons,
entities, or on sale of services or transactions specified
under Sections 116 to 127 of the National Internal
Revenue Code of 1997:
1) 3% percentage taxes on sale of goods, properties or
services;
2) Common carrier’s tax on domestic carriers
3) Franchise tax
4) Overseas communications tax
5) Tax on banks and non-bank financial intermediaries,
performing quasi-banks functions;
6) Tax on other non-bank financial intermediaries
7) Tax on insurance companies
8) Tax on agents of foreign insurance companies
9) Amusement tax
10) Tax on winnings
11) Stock transactions tax

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