Summary of Percentage Taxes and Excise Taxes, Including Donor's Taxes

PERCENTAGE TAXES SUMMARY (in ascending order) Rate | Description | 1/2 of 1% (0.005) | * PT /Final tax on shares sold in Local Stock Exchange | 0% | * Dividends/equity shares in Net Income of Subsidiaries | 1% | * IPO on share of stock over 33 1/3% * GR Tax on Banks, on interests, commissions and discounts with Maturity Period of More than 5 Years | 2% | * IPO on share of stock (25-33 1/3%) * Gas and water franchises | 3% | * PT on Domestic Carriers and Keepers of Garages (Quarterly) (Sec. 117) * International Air/Shipping Carriers (per quarter) (Sec. 118) * Radio/Television Broadcasting Company, not exceeding P10M (Sec. 119) * Non-VAT Taxpayer whose GR not exceeding P1.5M (Sec. 109I) | 4% | * IPO on share of stock up to 25% * Winning in Horse races (double, forcastiquinella, trifecta) | 5% | * Insurance Premiums (except purely cooperative companies/org) doing life business in Phils. * Nonlife insurance (direct purchase by property owner) | 5% | * GR Tax on Banks, on interests, commissions and discounts with maturity period of 5 years or less | 7% | * Royalties, rentals of property, real or personal profit from exchange * On net trading gains within the taxable year on foreign currency, debt securities, derivatives and other similar fin. Instruments | 10% | * GR for Services Rendered by Overseas Dispatch, message, conversation originating from the Philippines * Boxing exhibitions * Amusement Tax on Horse race winnings * Nonlife insurance from foreign companies not authorized to transact business in the Philippines Through an authorized agent | 15% | * Professional Basketball games | 18% | * Cockpits | 30% | * Jai-alai and Race tracks |
Notes:
* Domestic Carriers taxed at 3% PT, but not lower than
Minimum Quarterly GR | Areas of Business Operations | | Cities | Provinces | Jeepney for Hire | P65,700 | P32,900 | PUB | | | Lower than 30 passengers |