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Taxation: RC NRC RA Nraeb Nraneb SA On Taxable Income On Passive Income

This document summarizes taxation rates for individuals and corporations in the Philippines. For individuals, tax rates on taxable income range from 0-30% depending on residency classification. Passive income like interest, royalties, and dividends are taxed at rates from 7.5-20%. Capital gains on sale of shares or property are taxed at 5-10% depending on amount. For corporations, tax on taxable income is 30% for domestic corporations and ranges from 10-30% for foreign corporations depending on classification. Passive income is also taxed for corporations. Capital gains follow similar rates as individuals.

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93 views

Taxation: RC NRC RA Nraeb Nraneb SA On Taxable Income On Passive Income

This document summarizes taxation rates for individuals and corporations in the Philippines. For individuals, tax rates on taxable income range from 0-30% depending on residency classification. Passive income like interest, royalties, and dividends are taxed at rates from 7.5-20%. Capital gains on sale of shares or property are taxed at 5-10% depending on amount. For corporations, tax on taxable income is 30% for domestic corporations and ranges from 10-30% for foreign corporations depending on classification. Passive income is also taxed for corporations. Capital gains follow similar rates as individuals.

Uploaded by

Cyangen
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 PDF, TXT or read online on Scribd
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TAXATION

SUMMARY OF SIGNIFICANT POINTS

SUMMARY OF RATES

TAXPAYER
INDIVIDUAL
RC NRC RA NRAEB NRANEB SA
On taxable Income ST ST ST ST Gross Income 25% Compensation Income 15%
On Passive Income
1. Interest-FCDS 7.5% Exempt 7.5% Exempt None 7.5%
2. Interest on deposits 20% 20% 20% 20% None 20%
3. Royalties, except books-literary 20% 20% 20% 20% None 20%
4. Royalties-books 10% 10% 10% 10% None 10%
5. Prizes/winnings of more than 10,000 20% 20% 20% 20% None 20%
6. Dividends from domestic 10% 10% 10% 20% None 10%
On Capital gains
100,000 (5%) 100,000 (5%) 100,000 (5%) 100,000 (5%) 100,000 (5%) 100,000 (5%)
1. Sale of shares-not traded
>100,000 (10%) >100,000 (10%) >100,000 (10%) >100,000 (10%) >100,000 (10%) >100,000 (10%)
2. Sale of Real Property
6% on GSP or 6% on GSP or 6% on GSP or 6% on GSP or 6% on GSP or 6% on GSP or
held as CA-in the PH
FMV higher FMV higher FMV higher FMV higher FMV higher FMV higher
not a principal residence

TAXPAYER
CORPORATION
DC RF NRF SA
Depends on: Depends on: Private Educational Inst./NS-
10%TNI
a. NCIT-30%NI a. NCIT-30%NI NP Hospital
b. MCIT-2%GI b. MCIT-2%GI Resident International Carrier 2.5% GPHB
c. IAET-10% c. BRT-15% Non-resident Cinema 2.5% GI-PH
On taxable Income 30% GI
d. GIT-15% d. IAET-10%
Non-resident-Vessel 4.5% GI-PH
e. GIT-15%
Non-resident Aircraft 7.5% GI-PH
OBU 10% Interest-FCDS
On Passive Income
1. Interest-FCDS 7.5% 7.5% - -
2. Interest on deposits 20% 20% - -
3. Interest on Foreign Loans - - - 20%
4. Dividends from domestic Exempt Exempt 15% -
On Capital gains
100,000 (5%) 100,000 (5%) 100,000 (5%)
3. Sale of shares-not traded -
>100,000 (10%) >100,000 (10%) >100,000 (10%)
4. Sale of Real Property
6% on GSP or
held as CA-in the PH - - -
FMV higher
not a principal residence

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