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Passive Income Table 1

The document contains a table showing tax rates for different types of passive income for resident citizens, non-resident citizens, resident aliens engaged in trade or business, and resident aliens not engaged in trade or business in the Philippines. The table includes tax rates for interest income, royalties, and prizes and winnings.

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Maurice Agbayani
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36 views2 pages

Passive Income Table 1

The document contains a table showing tax rates for different types of passive income for resident citizens, non-resident citizens, resident aliens engaged in trade or business, and resident aliens not engaged in trade or business in the Philippines. The table includes tax rates for interest income, royalties, and prizes and winnings.

Uploaded by

Maurice Agbayani
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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TABLE 1

INDIVIDU

Resident Citizen Non Resident Citizen

1. Passive Income
1.1 Interest Income from:
Any currency deposit, yield or any other monetary benefits from
deposit substitutes and from trust funds and similar arrangements. 20% 20%
Long term deposit or investment In the form of savings, common or
Depository
individual bankdeposit
trust funds, under the Expanded
substitute, Currencymanagement
investment Foreign Deposit
accounts
System (EFCDS)
and other investments evidencd by certificates in such form prescribed by 7.50% Exempt
the BSP with five-year term or longer.

If preterminated before the 5th year:


Exempt Exempt
4 years to
less than 5 years 5% 5%
12% 12%
3
years to less than 4 years 20% 20%
1.2 Royalties
Royalties,
lessinthan
general
3 years 20% 20%
Royalties in books, literary works, and musical composition 10% 10%
3.3 Prizes and winnings
Prizes, in general 20% 20%
Prizes amounting to Php10,000 or less are subject to income tax
schedule
Winnings, in general (PCSO and lotto winnings are tax exempt) 20% 20%

New Rule: 15%


INDIVIDUAL
NRA Engaged in Trade NRA Not Engaged in Trade or
Resident Alien
or Business Business

20% 20%

7.50% Exempt

Exempt Exempt

5% 5%

12% 12%
20% 20%

20% 20%
10% 10%

20% 20%

20% 20%

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