I 5c:..
-
OTHER PERCENTAGE TAXES RATES (credits to @leiiistudies)
• • l " '1"
Tax Base ~ Tax Rate
Coverage
1% (July 1, 2d20 to June
30, 2023)
... Persons exempt from VAT (Sec. 116) ~ 3M THs Gross sales or receipts
116 3% (July 1, 2023
onwards)
.117 Domestic carriers and keepers of garages (Sec. 117) Gross receipts 3%
Minimum quarterly gross receipts
Jeepney for hire Taxis
Manila and other cites 2,400 Manila and other cites 3,600
Provincial 1,200 Provincial 2,400
Public utility bus
Car for hire
Not exceeding 30 passengers 3,600 With chauffeur 3,000
Over 30 but not 50 6,000 Without chauffeur 1,800
Over 50 passengers 7,200
-~ International air and shipping carriers doing
. .. business in the Philippines - goods & cargoes from
• "1.11 , PH to abroad (Sec. 118)
• . \, ,=--------- '---:-=---~ -:---------L______ __i_______ _- l
Gross receipts 3%
1:1~ .·-, Franchise grantees (Sec. 119)
'?as and water utilities (CO2 & H20)
Gross receipts 2%
Radio and television broadcasting companies < 1OM Gross receipts 3%
preceeding year & not VAT reg. GMA- 3 letter
:otiief:)Ffia,iffl HIGHER: Gross gaming
•'
revenue & pre-determined
min. monthly revenue
•t~ ,,,.., from gaming operations
~ _.)'- '',;}
...f:.'
--~b:
·.•. ,,,
paid for the
10%
r-·.......
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Diplomatic services
International organizations
News agencies or services
Government
• :. '.-:.+;;/1 Banks and non-bank financial intermediaries
:·,t;.\~~·r. performing quasi-banking functions (Sec. 121) Gross receipts or income See below
Interest, commissions, and discounts from lending activities and financial leasing:
Dividends and equity shares and net income of subsidiaries 0%
Royalty, rentals (7 letters) of property, real or personal, profits from the exchange
and all other items treated as gross income under Sec. 32 of the Tax Code 7%
Net trading (7 letters) gains within the taxable year of foreign currency, debt
securities, derivatives, and other similar financial instruments 7%
~ t ?-,•.'
!.... 1·22 Other non-bank financial intermediaries (Sec. 122) Gross receipts or income See below
Interest, commissions, discounts and all other items treated as gross income under
the Tax Code 5%
Interest, commissions, discounts from lending activities and financial leasing:
•
•
R,C'PA
•
Total premiums 2%
123 Life Insurance premiums (Sec. 123) collected
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th
Premiums refund within six (6) months after payment on account of rejection of risk or returned for o er
reasons
Reinsurance premiums
Premiums from life insurance of non-residents received from abroad by branches of domestic corporation, firm
or association doing business outside the Philippines
Excess of premiums on variable contracts in excess of the amounts necessary to insure the lives of the variable
contract owners
Premium collected by a purely cooperative company or association
124 Agents of foreign insurance companies (fire/marine or miscellaneous insurance) (Sec. 124)
Agents of non-resident foreign
Total premiums 4%
'8!J)Ol'8tions engaged in insurance
collected
liusiness (Sec.123 x .2)
Owners of perty ob •
. ee . -.,,un,... ..
Total premiums paid 5%
125
,
Place for boxing game* (5 letters) Gross receipts 10%
Place for professional basketball Gross receipts 15%
games (10 letters)
Cockpits, cabarets, night or day clubs Gross receipts 18%
Jai-alai and racetracks Gross receipts 30%
*Requisites for exemption of boxing exhibitions:
'
1. World or oriental championship is at stake
2. One of the contenders is a citizen of the Philippines
3. Promoted by citizens of the Philippines or by a corporation or association at least 60% of the capital of
which is owned by such citizen
126 Winnings (Sec. 126)
Owner of the winning horse Gross winnings 10%
Bettor in a horse race or jai-alai:
' Net winnings 10%
)
Net winnings 4%
Sale, barter or exchange of shares of stock listed and traded through the local stock exchange or
127
through initial public offering (IPO) (Sec. 127)
Shares of stock listed and traded Gross selling price 6/1 0 of 1% (0.006)
(not ·by a dealer in securities)*
*Shall be remitted by the broker within 5 banking days from the date of collection
Gross selling price See below
Ratio of shares sold/outstanding shares after the listing:
Up to 25% 4%
Over 25% to 33 1/3% 2%
Over 33 1/3% 1%
R,C'l'A
3 L 6 1
M NO. 2551 QJ
OTHER PERCENTAGE TAX [BIR FOR
· d h If fif1 rt I
I . ADMINISTRATIVE REQUIREMENEver TS
y person subject to the percenta ge taxe s impo se 5 a 8 a qua er Y
Who will file? '
return & a the tax due thereon. r .
ble uarte
Deadline of Quarterl Return Within 25 da s after the end of each taxa the tax according ly.
ayers shall file a consolidated return & pay
Consoliiiated return of large Larg e taxp
tax a ers
Large Taxpayers As to Tax Payments
At least 200k arter
VAT
VP - 2 letters At least 200k rter
Percenta e Tax
Withholdin Tax At leas t 1M a
Income Tax At least 1
At least 1
WIDE - 1 syllable DST =-= ~~L --L- ---- ---- -1
i-=- =--= ---- --+- :-=- :-=-
eas er ear
As to Financial Con ditio n
Gross sales - 1o Gross At least 1,000,000,000
letters recei ts ear
Purchase - 8 Gross purchases At least 800M for the
letters receedin ear
Net worth At least 300M at the close of
Net - 3 letters each calendar or fiscal ear
• taxable quarter/s
percentage tax • Can be carried forward to the succeeding
Excess Carry-over Excess Perce ntage Taxes Paid from Previous Quarter
I
payments as a result of the • Line 17:
• 3% to 1% - starting from July 1, 2020 to June 30, 2023
decreas~ of the tax rate
• llation (prospective)
Person whose VAT Tax shall accrue from the date of cance
• 25 days after the end of each taxable quarter
registration is cancelled & who Shall be paid within
becomes liable to Sec 116
officer
Person retiring from business • Shall notify the nearest internal revenue
• pay the tax due within 20 days
(20 letters) subject to a File his return and
ercenta e tax filing
• percentage tax through withholding by
Withholding of percentage tax If the taxpayer-payee opts to remit his Throu h the Withh oldin Proce ss"
the Tax
"Notice of Availment of the O tion to Pa
1. When a taxpayer fails to issue receipts or invoices
CIR may prescribe a minimum 2• When no return is filed
amount of gross receipts 3. When there is reason to believe that the books of accounts and other records
do not
decla rations made or to be made in the return
correct! reflect the
1. AAB
Place of filing & payment
2. RDO/LTDO/LTAD
3. Collection Agent principal
or municipality where the business or
4. Duly ~uthorized Treasurer of the city
lace Is located
solidated Retum
, •. ·, ~e"" arate;·Returri:~ . ; ,... • \lot ; Con
Option to file a separate return
\t> • ·.,
or consolidated return All branches or places of business
• For each branch or place of
business
I
•
R. l'PA
