Taxation In The Philippines

Taxation in the Philippines
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Taxation
An aspect of fiscal policy
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List of countries by tax rates
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v t e
Taxation in the Philippines is controlled by the Bureau of Internal Revenue (Philippines). Taxes in the Philippines range from 5% to 35%[1]
Contents
[hide]
1 Exceptions
2 Cedula
3 Value Added Taxes (VAT)
4 Excise taxes
5 References
Exceptions[edit]
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[edit]
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)[edit]
In the Philippines, the rate of VAT is at 12%. With some additional VAT:[1]
Cockpits and Cabarets: 18%
Jai-Jalai and racetracks: 30%
And with some exceptions:[1]
Big Businesses: 90%
Not VAT-registered businesses: 3-5%
Excise taxes[edit]
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]