Taxation in the Philippines

Taxation in the Philippines is controlled by the Bureau of Internal Revenue (Philippines). Taxes in the Philippines range from 5% to 35%^[1] Income tax is zero for income up to 5000 Php month and ten percent above that figure.

Exceptions

• employed individuals: single, head of the family, and married individuals^[1] ......
• 25,000 for every qualified dependent child; number of children not to exceed four.^[1]
• Exceptions for Small and Medium Enterprises with income of less than 100,000 pesos

Cedula

Cedula is a community tax that is paid annually at the Barangay Hall. It is often rated at 5% of income.

Value Added Taxes (VAT)

In the Philippines, the rate of VAT is at 12%. With some additional VAT:^[1]

• Cockpits and Cabarets: 18%
• Jai-Jalai and racetracks: 30%
• Professional basketball: 15%
• Boxing :10%
• Gas and Water Utilities: 2%

And with some exceptions:^[1]

• Big Businesses: 90%
• Not VAT-registered businesses: 3-5%

Excise taxes

Alcoholic beverages, tobacco products, jewelry, petroleum products, mining and petroleum taxes, residence taxes, a head tax on immigrants above a certain age and staying beyond a certain period, document stamp taxes, donor (gift) taxes, estate taxes, and capital gains taxes. A document stamp tax is charged on stock certificates, proofs of indebtedness, proofs of ownership, etc., and normally amount to .75% to 1% of the par or face value of the certificate are imposed with excise taxes.^[1]

References

Philippines topics History Prehistory History of the Philippines (900–1521) Spanish colonial period (1521–1898) Revolution (1896–1898) First Republic (1899–1901) Philippine–American War (1899–1902) American colonial period (1898–1946) Commonwealth (1935–1946) Japanese occupation (1942–1945) Second Republic (1943–1945) Third Republic (1946–1965) Marcos era (1965–1986) Fifth Republic (1986–present) Geography Climate Ecoregions Environment Extreme points Island groups islands Lakes Landmarks Mountains National parks Protected areas Rivers Volcanoes Wildlife World Heritage Sites Politics Administrative divisions Congress Constitution Elections Foreign relations Government Human rights Law enforcement Military Political parties President Supreme Court Economy Agriculture Business process outsourcing Central Bank Energy Fiscal policy National debt Labor Peso (currency) Stock Exchange Taxation Telecommunications Tourism Transportation Science and technology Society Corruption Crime Demographics Education Ethnic groups Filipino people Health Income inequality Languages Poverty Provinces by HDI Water supply and sanitation Culture Architecture Art Cinema Cuisine Cultural Properties Dance Clothing Festivals Filipinophile Historical Markers Literature Media Music Mythology Public holidays Psychology Religion Sexuality Sports Traditional games Value system Symbols Anthem Coat of arms Arnis / Eskrima (martial art) Flag Name Narra (tree) Philippine eagle Sampaguita (flower) Outline Index Book Category Portal WikiProject