1997 Tax Code SEC. 24.
Income Tax Rates (A)
Not over P10,000
Over P10,000 but not over P30,000
Over P30,000 but not over P70,000
Over P70,000 but not over P140,000
Over P140,000 but not over P250,000
Over P250,000 but not over P500,000
Over P500,000
January 1, 2018 to December 31, 2022
Not over P250,000
Over P250,000 but not over P400,000
Over P400,000 but not over P800,000
Over P800, 000 but not over P2,000,000
Over P2,000,000 but not over P8,000,000
Over P8,000,000
January 1, 2023 and onwards
Not over P250,000
Over P250,000 but not over P400,000
Over P400,000 but not over P800,000
Over P800, 000 but not over P2,000,000
Over P2,000,000 but not over P8,000,000
5%
P500 + 10% of the excess over P10,000
P2,500 + 15% of the excess over P30,000
P8,500 + 20% of the excess over P70,000
P22,500 + 25% of the excess over
P140,000
P50,000 + 30% of the excess over
P250,000
P125,000 + 32% of the excess over
P500,000
0%
20% of the excess over P400,000
P30,000 + 25% of the excess over
P400,000
P130,000 + 30% of the Excess over
P800,000
P490,000 + 32% of the excess over
P2,000,000
P2,410,000 + 35% of the excess of
P8,000,000
0%
15% of the excess over P250,000
P22,500 + 20% of the excess over
P400,000
P102,500 + 25% of the excess over
P800,000
P402,500 + 30% of the excess over
P2,000,000
 Over P8,000,000 P2,202,500 + 35% of the excess over
P8,000,000

Income Tax of Purely Self-employed individuals and/ or Professionals

B. Rate of Tax on Income of Purely Self-employed Individuals and/ or Professionals

Whose Gross Sales or Gross Receipts and Other Non- Operating Income Does Not
Exceed the Value-added Tax (VAT) Threshold as Provided in Section 109 (BB)–
Self-employed individuals and/or professionals shall have the option to avail of
an eight percent (8) Tax on Gross sales or gross receipts and other non-operating
income in excess of two hundred fifty thousand pesos (P250, 000) in lieu of the
graduated income tax rates under subsection (A) (2) (a) of this Section and the
percentage tax under Section 116 of this code

(Self- Employed and Professionals Taxpayers earning Below P3,000,000 have the
option of either using the Train’s New Tax Table or Going for an 8% Flat tax rate on
gross sales. SEPS earning P250,000 and below are exempted from income tax.
SEPS with Gross Sales or Receipts of P500,000 and below are exempted from the
3% Percentage tax.)

Sec 24 (B) Rate of Tax on Certain Passive Income

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Expanded Foreign Currency Deposit of individuals (except Non-resident
individual)
7 ½% 15%

Cash and/or Property Dividends (Capital Gains of shares of Stock not Traded in
the Stock Exchange)
10% 15%

Sec 25. (added) (F)

“(F) The preferential tax treatment provided in Subsections ( C ), (D), and (E) of this
Section shall not be applicable to regional headquarters (RHQs), regional
operating headquarters (ROHQs), offshore banking units (OBUs) or petroleum
service contractors and subcontractors registering with the Securities and
Exchange Commission (SEC) after January 1, 2018: Provided, however, That
existing RHQs/ROHQs, OBUs or petroleum service contractors and subcontractors
presently availing of preferential tax rates for qualified employees shall continue
to be entitled to avail of the preferential tax rate for present and future quailed
employees”

Note: “The president rejected the line that reduced income tax rate of employees
of regional headquarters, regional operating headquarters, offshore banking
units and petroleum service contractors and sub-contractors… violates the equal
protection clause”

Sec 27. Rates of Income Tax on Domestic Corporation

other winnings (except winnings amounting to Ten

thousand pesos (P10,000) or less from Philippine Charity
Sweepstakes and Lotto which shall be exempt), derived
from sources within the Philippines:

Note: Winnings amounting to more than P10,000 from

Philippine Charity Sweepstakes and Lotto are now
taxable at the rate of 20%

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Interest income derived by a domestic corporation from a depository bank
under the expanded foreign currency deposit system
7 ½% 15%
Capital Gains from the Sale of Shares of Stock Not Traded in the Stock
Exchange
Not over P100,00 = 5% 15%
Over P100,000 = 10%

Sec. 31.

Taxable Income Defined. - The term “taxable income” means the pertinent items
of gross income specified in this Code, less the deductions, if any, authorized for
such types of income by this Code or other special laws.

The word “and/or personal and additional exemptions” as stated in the 1997 Tax
Code was deleted
(e) 13th Month Pay and Other Benefits. - Gross benefits received by officials and
employees of public and private entities: Provided, however, That the total
exclusion under this subparagraph shall not exceed Ninety thousand pesos
(P90,000)
The previous statutory cap was P82,000.
SEC. 33. Special Treatment of Fringe Benefit. -

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Fringe Benefit Tax
32% 35%
grossed-up monetary value of the fringe benefit shall be determined by
dividing the actual monetary value of the fringe benefit by
68% 65%

SEC. 34. Deductions from Gross Income. - Except for taxpayers earning
compensation income arising from personal services rendered under an
employer-employee relationship where no deductions shall be allowed under this
Section in computing taxable income subject to income tax under Sections 24
(A); 25 (A); 26; 27 (A), (B) and (C); and 28 (A) (1), there shall be allowed the
following deductions from gross income;
Sec. 35. Allowance of Personal Exemption for Individual Taxpayer. (Repealed)

The phrase “other than under subsection (M) hereof,” from the 1997 Tax Code was
deleted.
(2) The following individuals shall not be required to file an income tax return:

“(a) An individual whose taxable income does not exceed Two hundred fifty
thousand pesos (P250,000) under Sections 24(A)(2)(a); Provided, that a citizen of
the Philippines and any alien individual engaged in business or practice of
profession within the Philippines shall file an income tax return regardless of the
amount of gross income:

(5) The income tax return (ITR) shall Consist of maximum of four (4) pages in paper
form or electronic forms and shall only contain. (A) Personal profile and
information; (B) Total gross sales, receipts or income from Compensation for
services rendered, conduct of trade or business or the exercise of profession,
except income subject to final tax as provided under this code; (C) Allowable
deductions under this Code; (D) Taxable income as defined in Section 31 of this
Code and € Income Tax Due and payable.
(Individuals whose taxable income does not exceed P250,000 shall not be
required to file an income tax return)
SEC. 52. Corporation Returns. -

(A) Requirements. - Every corporation subject to the tax herein imposed, except
foreign corporations not engaged in trade or business in the Philippines, shall
render, in duplicate, a true and accurate quarterly income tax return and final or
adjustment return in accordance with the provisions of Chapter XII of this Title. The
income tax return shall consist of a maximum (4) pages in paper form or electronic
form be filed by the president, vice-president or other principal officer, and shall
be sworn to by such officer and by the treasurer or assistant treasurer and shall
only contain the following information: (1) Corporate profile and information; (2)
Gross sales, receipts or income from services rendered, or conduct of trade or
business, except income subject to final tax as provided under this Code; (3)
Allowable deductions under this Code; (4) Taxable income as defined in Section
31 of this Code; and (5) Income tax due and payable.

The phrase “The income tax return shall consist of a maximum (4) pages in paper
form or electronic form” was added and also the required information to be
stated”
Sec 56. Payment and Assessment of Income Tax for Individuals and Corporations’

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Payment of Second Installment
July 15 October 15

Sec 57. Withholding of Tax at Source

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
1% - 32% 1% - 15%
Sec. 58. Return and Payment of Taxes Withheld at Source

Added proviso “The return for final and creditable withholding taxes shall be filed
and the payment made not later than the last day of the month following the close
of the quarter during which withholding was made”

Sec 74. Declaration of Income Tax for Individuals

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Declaration of income tax for individuals
April 15 May 15
Return and Payment of Estimated Income Tax by Individuals (fourth
installment)
April 15 May 15

Sec 84. Rate of Estate Tax

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Rates of Estate Tax
Graduated scale from 5% to 20% Flat rate of 6%
depending on the amount of the net
estate.

1) Expenses, Losses, Indebtedness, and Taxes. (Repealed)

Sec 86. Computation of Net Estate Tax

Previous law Tax Reform for Acceleration and

Inclusion
Standard Deduction
P1,000,000 P5,000,000
Family Home
Shall not exceed P1,000,000 Shall not exceed P10,000,000
Deductions allowed to Nonresident Estates

Added a Standard Deduction of P500,000 and that proportion of the deductions

specified in paragraphs (2), (3) and (4) of Subsections (A) of this Section which the
value of such part bears to the value of his entire gross estate wherever situated
Sec 89 (Notice of Death to be filed) is now repealed
Sec 90 - Estate Tax Returns

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Gross Value of the estate needed to be supported by a statement of a
certified CPA
P2,000,000 P5,000,000
Time to file
within six (6) months from the within one (1) year from the
decedent's death. decedent’s death.

C. Payment by Installment. – In case the available cash of the estate is insufficient

to pay the total estate tax due, payment by installment shall be allowed within
two (2) years from the statutory date for its payment without civil penalty and
interest.

Sec 97 is amended as follows

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Withdrawal of deposit in banks
Certification from the Commissioner Withdrawal is subject to 6% Final
that the tax has been paid is needed Withholding tax
before one may withdraw his account
however an amount not exceeding
P20,000 may be withdrawn without the
certification

“If a bank has knowledge of the death of a person, who maintained a bank
deposit account alone, or jointly with another, it shall allow any withdrawal from
the said deposit account, subject to a final withholding tax of six percent (6%). For
this purpose, all withdrawal slips shall contain a statement to the effect that all of
the joint depositors are still living at the time of withdrawal by any one of the joint
depositors and such statement shall be under oath by the said depositors.”
Sec 99. Rate of tax Payable by Donor

1997 National Internal Revenue Code Tax Reform for Acceleration and
Inclusion
Donors Tax
Graduated Scale from 2% to 15% 6% computed on the basis of the total
Or Standard rate of 30% for strangers gifts in excess of P250,000

Sec 101 (A) In the Case of Gifts Made by a Resident

Dowries or gifts made on account of marriage (repealed)

Sec 106.
(2) Sale and delivery of goods to:

(i) Registered enterprises within a separate customs territory as provided under

special laws; and

(ii) Registered enterprises within tourism enterprises zones as declared by the

Tourism Infrastructure and Enterprise Zone Authority (TIEZA) subject to the
provisions under Republic Act No. 9594 or the Tourism Act of 2009
Xxxxx

Provided, that subparagraphs (3), (4), and (5) hereof shall be subject to the 12%
value-added tax and no longer be considered export sales subject to 0% VAT
rate upon satisfaction of the following conditions

1. The successful establishment and implementation of an enhanced VAT

refund system that grants refunds of creditable input tax within in 90 days
form the filing of the VAT refund application with the Bureau:
2. All pending VAT refund claims as of December 31, 2017 shall be fully paid
in cash by December 31, 2019

Note (the president also vetoed the zero-rating of sales of goods and services to
separate customs territory and tourism zones. violates the principle of limiting the
VAT zero-rating to direct importers”) also the “Sale of gold to the Bangko Sentral
ng Pilipinas (BSP)” Which was previously included as export trasanction has been
deleted

Sec 109 Exempt Transactions.

(D.) Importation of professional instruments and implements, tools of trade,

occupation or employment, wearing apparel, domestic animals and personal
and household effects belonging to persons coming to settle in the Philippines or
Filipinos or their families and descendants who are now resident or citizens of other
countries, such parties hereinafter referred to as overseas Filipinos, in quantities
and of the class suitable to the profession, rank or position of the persons importing
said items for their own use and not for barter or sale, accompanying such
persons, or arriving within a reasonable time; Provided, That the Bureau of Customs
may, upon the production of satisfactory evidence that such persons are actually
coming to settle in the Philippines and that the goods are brought from their former
place of abode, exempt such goods from payment of duties and taxes: Provided
further that vehicles, vessels, aircrafts, machineries and other similar goods for use
in manufacture, shall not fall within this classification and shall therefore be subject
to duties, taxes and other charges.

*Note. Old law did not extend the exemption to family and descendants who are
now resident or citizens of other countries of Filipinos coming to settle in the
Philippines and there is a specific time table of 90 days before or after upon which
personal effects of the person must arrive in the Philippines for it to be eligible for
the exemption.

1997 National Internal Revenue Code Tax Reform for Acceleration and
as amended Inclusion
Lease of residential units with monthly rental threshold
P12,800 P15,000

(S) Transportation of passengers by international carriers (added proviso)

(U) Importation of fuel, goods and supplies by persons engaged in international

shipping or air transportation operations: Provided, That the fuel, goods, and
supplies shall be used for international shipping or air transport operations (added
proviso)

(W) Sale or lease of goods and services to senior citizens and persons with
disability, as provided under Republic Act Nos. 9994 (Expanded Senior Citizens
Act of 2010) and 10754 (An Act Expanding the Benefits and Privileges of Persons
with Disability)
(X) Transfer of property pursuant to Section 40(C)(2) of the NIRC, as amended;

(Y) Association dues, membership fees, and other assessments and charges
collected by homeowners associations and condominium corporations;
(Z) Sale of gold to the Bangko Sentral ng Pilipinas (BSP);

(AA) Sale of drugs and medicines prescribed for diabetes, high cholesterol, and
hypertensions beginning January 1, 2019

(BB) Sale or Lease of goods or properties or the performance of services other than
the transactions mentioned in the preceding paragraphs, the gross annual sale
and/or receipts for not exceed the amount of three million pesos (P3,000,000)

Sec. 110 Tax Credits

XXXXX

Added provisions “Provided, further, That the amortization of the input VAT shall
only be allowed until December 31, 2021 after which taxpayers with unutilized
input VAT on capital goods purchased or imported shall be allowed to apply the
same as scheduled until fully utilized.
(Provision on depreciating input tax on purchase of capital goods)

Sec 112.

1997 National Internal Revenue Code Tax Reform for Acceleration and
as amended Inclusion
Period within which Refund or Tax Credit of Input Taxes shall be made
120 days from the date of submission 90 days from the date of submission of
of complete documents in support of the official receipts or invoices and
the application other documents in support of the
application
In action of the Commissioner to act on the application
After expiration of the 120 days period The failure on the part of any official,
the taxpayer may appeal the agents or employee of the BIR to act
unacted claim to the CTA on the application within 90 days
period shall be punishable under
Section 269 of this Code.
Note: The phrase “or issue the tax credit certificate” has been deleted

Sec 114. Return and Payment of Value-added Tax

Added Provision on subsection (C) “Provided, That beginning January 1, 2021, the
VAT withholding system under this Subsection shall shift from final to creditable
system.” And “Provided finally, That payments for purchases of goods and
services arising from projects funded by Official Development Assistance (ODA)
as defined under Republic Act No.8182, otherwise known as the ‘Official
Development Assistance Act of 1996”, as amended shall not be subject to the
final withholding tax system as imposed in this Subsection.”
(Note: Provision on withholding VAT on sale of goods to Gov)

Section 116. Tax on Persons Exempt from Value-Added Tax (Percentage tax)

Added provision. “Provided, That cooperatives and beginning January 1, 2019,

self-employed and professionals with total annual gross sales and/or gross
receipts not exceeding P500,000 shall be exempted from the 3 percentage tax
on gross receipts tax.

Note: “President Duterte likewise vetoed the exemption from percentage tax of
gross sales and receipts not more than P500,000, as such will result in unnecessary
erosion of revenues and would lead to abuse and leakages”

Section 127. Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded
through the Local Stock Exchange.

1997 National Internal Revenue Code
as amended
½ of 1% of the gross selling price or
gross value in money of the shares of
stock.
Tax Reform for Acceleration and
Inclusion
6/10 of 1% of the gross selling price or
gross value in money of the shares of
stock.
Section 145. Cigars and Cigarettes
B. Cigarettes Packed by Hand and Machine

January 1, 2018 – June 30, 2018 P32.50 per pack

July 1, 2018 – December 31, 2019 P35.00 per pack
January 1, 2020 – December 31, 2021 P37.50 per pack
January 1, 2022 – December 31, 2023 P40.00 per pack

“The rate of tax imposed under this subsection shall be increased by 4% every
year effective on January 1, 2024, through revenue regulations issued by the
Secretary of Finance.”

Sec 148. Manufactured Oils and Other Fuels. – There shall be collected on refined
and manufactured mineral oils and motor fuels

January 1, January 1, January 1,

2018 2019 2020
Lubricating oils and greases P8.00 P9.00 P10.00
including but not limited to,
basestock for lube oils and
greases, high vacuum
distillates, aromatic extracts
and other similar preparations,
and additives for lubricating oils
and greases, whether such
additives are petroleum based
or not per liter and kilograms
respectively of volume capacity
or weight.
Processed gas P8.00 per liter
P9.00 per liter P10.00 per
of volume
of volume liter of
capacity capacity volume
capacity
Waxes and petrolatum P8.00 per P9.00 per P10.00 per
kilogram kilogram kilogram
Denatured alcohol to be used P8.00 per liter P9.00 per liter P10.00 per
for motive power of volume of volume liter of
capacity capacity volume
capacity
Naphtha, regular gasoline, P7.00 per liter P9.00 per liter P10.00 per
pyrolysis gasoline and other of volume of volume liter of
similar products of distillation capacity capacity volume
capacity
Unleaded premium gasoline P7.00 per liter P9.00 per liter P10.00 per
of volume of volume liter of
capacity capacity volume
capacity
Aviation turbo jet fuel aviation P4.00 per liter P4.00 per liter P4.00 per
gas of volume of volume liter of
capacity capacity volume
capacity
Kerosene P3.00 per liter P4.00 per liter P5.00 per
of volume of volume liter of
capacity capacity volume
capacity

January 1, January 1, January 1,

2018 2019 2020
Diesel fuel oil and on similar fuel P2.50 per liter P4.50 per liter P6.00 per
oils having more or less the of volume of volume liter of
same generating power capacity capacity volume
capacity
Liquefied petroleum gas P1.00 per P2.00 per P3.00 per
kilogram kilogram kilogram
Asphalts P8.00 per P9.00 per P10.00 per
kilogram kilogram kilogram
Bunker fuel oil and on similar P2.50 per liter P4.50 per liter P6.00 per
fuel oils having more or less the of volume of volume liter of
same generating power capacity capacity volume
capacity
Petroleum coke P2.50 per P4.50 per P6.00 per
metric ton metric ton metric ton

Sec . 149 Automobiles.

Ad valorem tax on automobiles based on Net manufacture’s price/ importer’s

selling price

1997 National Internal Revenue Code Tax Reform for Acceleration and
as amended Inclusion
Up to P600,000 – 2% Up to P600,000 – 4%
 Over P600,000 to P1.100,000 – P12,000 Over P600,000 to P1,000,000 -10%
+ 20% of excess P600,000
Over P1,100,000 to P2,100,000 – Over P1,000,000 to P4,000,000 – 20%
P112,000+40% of excess of P1,100,000
Over P2,100,000 – P512,000 + 60% of Over P4,000,000 – 50%
value excess of P2,100,000

Sec. 150- A- Non-essential Services (New Proviso)

There shall be levied, assessed and collected a tax equivalent to 5% based on

the gross receipts derived from the performance of services, net excise tax and
value0added tax, on invasive cosmetic procedures, surgeries, and body
enhancements directed solely towards improving, altering, or enhancing the
patient’s appearance and do not meaningfully promote proper function of the
body or prevent or treat illness or disease: Provided, That this tax shall not apply
to procedures necessary to ameliorate a deformity arising from, or directly related
to, a congenital or developmental defect or abnormality, a personal injury
resulting from an accident or trauma, or disfiguring disease tumor, viruses or
infection”: provided, further, That cases or treatments covered by National Health
Insurance Program shall not be subjected to this tax
Sec. 150 -B Sweetened Beverages

January 1, 2018
Sweetened P6.00 per liter of volume capacity
beverages using
purely caloric
sweeteners or a mix
of caloric and non-
caloric sweeteners
Sweetened P12.00 per liter of volume capacity
beverages using
purely high fructose
corn syrup or in
combination with
any caloric or non-
caloric sweetener.
Sec. 151 Mineral Products

NIRC January 1, January 1, January 1,

2018 2019 2020
Coal and P10.00 per P50.00 per P100.00 per P150.00 per
Coke metric ton metric ton metric ton metric ton
On all 2% of the 4% of the 4% of the 4% of the
nonmetallic actual market actual market actual market actual
mineral and value of the value of the value of the market
quarry gross output gross output gross output value of the
resources thereof at the thereof at the thereof at the gross output
time of time of time of thereof at
removal removal removal the time of
removal
Copper and 2% 4% 4% 4%
other metallic
minerals
Gold and 2% 4% 4% 4%
chromite
Indigenous 3% 6% 6% 6%
petroleum

Sec 174.
Stamp Tax on Original issue of Shares of Stock.

NIRC Tax Reform for Acceleration and

Inclusion
P1.00 on each P200.00, or fractional P2.00 on each P200.00, or fractional
part thereof , of the par value of such part thereof, of the par value of such
shares of stock shares of stock
Sec 175.

Stamp Tax on Sales, Agreements and Sell, Memoranda of Sales, Deliveries or

transfer of Shares or Certificates of stock

NIRC Tax Reform for Acceleration and

Inclusion
P0.75 on each P200.00, or fractional P1.50 on each P200.00, or fractional
part thereof if the par value of such part thereof if the par value of such
stock stock

Sec 177
Stamp Tax on Certificates of Profits or Interest in Property and Accumulations

NIRC Tax Reform for Acceleration and

Inclusion
P0.50 on each P200, or fractional part P1.00 on each P200, or fractional part
thereof, of the face value of such thereof, of the face value of such
certificate or memorandum. certificate or memorandum.

Sec 178

Stamp Tax on Bank Checks, Drafts, Certificates of Deposit not Bearing Interest and
Other Instruments

NIRC Tax Reform for Acceleration and

Inclusion
P1.50 P3.0

Sec 179
Stamp Tax on All Debt Instruments

NIRC Tax Reform for Acceleration and

Inclusion
P1.00 on each P200.00 or fractional P1.50 on each P200.00 or fractional
part thereof , of the issue price of any part thereof , of the issue price of any
debt instruments debt instruments
Sec 180
Stamp Tax on All Bills of Exchange or Drafts

NIRC Tax Reform for Acceleration and

Inclusion
P.30 on each P200, or fractional part P.60 on each P200, or fractional part
thereof, of the face value of any such thereof, of the face value of any such
bill of exchange or draft. bill of exchange or draft.

Sec 183.
Stamp Tax on Life Insurance

NIRC Tax Reform for Acceleration and

Inclusion
Does not exceed p100,000 – Exempt
Exceeds P100,000 but does not
exceed P300,000 – P20.00
P.50 on each P200, or fractional part Exceeds P300,000 but does not
thereof, of the amount of premium exceed P500,000 – P50.00
collected Exceeds P500,000 but does not
exceed P750,000 – P100.00
Exceeds P750,000 but does exceed P
1,000,000 – P150.00
Exceeds 1,000,000 – P200.00

Sec 186.
Stamp Tax on Policies of Annuities and Pre-Need Plans

NIRC Tax Reform for Acceleration and

P.50 on each P200 , or fractional part
thereof, of the premium or installment
payment on contract price collected.
On pre-need plans, P.20 on each P200
, or fractional part thereof, of the
premium or Contribution collected
Inclusion
P1.00 on each P200 , or fractional part
thereof, of the premium or installment
payment on contract price collected.
On pre-need plans, P.40 on each P200
, or fractional part thereof, of the
premium or Contribution collected
Sec 188.
Stamp Tax on Certificates
NIRC
P15.00
Sec 189
Stamp Tax on Warehouse Receipt
NIRC
P15.00 provided, that no tax shall be
collected on each warehouse receipt
issued to any person in any one person
in any one calendar month covering
property the value of which does not
exceed P200
Sec 190.
Stamp Tax on Jai-alai, Horse Race, Tickets, Lotto or other Authorized Numbers
games
NIRC
P.10 provided, that if the cost of the
ticket exceeds One pesos (P1.00), an
additional tax of Ten centavos on ever
One pesos or fractional part thereof,
shall be collected
Sec 191
Stamp Tax on Bills of Lading or Receipts
NIRC
P1.00, if the value of such goods does
not exceeds P1,000; P10.00, if the
value exceeds P1,000
Tax Reform for Acceleration and
Inclusion
P30.00
Tax Reform for Acceleration and
Inclusion
P30.00 provided, that no tax shall be
collected on each warehouse receipt
issued to any person in any one person
in any one calendar month covering
property the value of which does not
exceed P200
Tax Reform for Acceleration and
Inclusion
P.20 provided, that if the cost of the
ticket exceeds One pesos (P1.00), an
additional tax of P.20 on ever One
pesos or fractional part thereof, shall
be collected
Tax Reform for Acceleration and
Inclusion
P2.00, if the value of such goods does
not exceeds P1,000; P20.00, if the
value exceeds P1,000
Sec 192.
Stamp Tax on Proxies

NIRC Tax Reform for Acceleration and

Inclusion
P15.00 P30.00

Sec 193
Stamp Tax on Powers of Attorney

NIRC Tax Reform for Acceleration and

Inclusion
P5.00 P10.00

Sec 194
Stamp Tax on Lease and Other Hiring Agreements

NIRC Tax Reform for Acceleration and

P3.00 for the first P2,000, or fractional
part thereof, and an additional P1.00
for every P1,000 or fractional part
thereof, in excess of the first P2,000 for
each year of the term of said contract
or agreement
Inclusion
P6.00 for the first P2,000, or fractional
part thereof, and an additional P2.00
for every P1,000 or fractional part
thereof, in excess of the first P2,000 for
each year of the term of said contract
or agreement

Sec 195
Stamp Tax on Mortgages, Pledges, and Deeds of trust

NIRC Tax Reform for Acceleration and

Inclusion
Does not exceed P5,000 - P20.00 Does not exceed P5,000 - P40.00
 On each P5,000 or fractional part
thereof in excess of P5,000 an
additional tax of P10.00
Sec 197. Stamp Tax on Charter Parties and Similar Instruments
NIRC
a) If the registered gross tonnage of
the ship, vessel or steamer does not
exceed one thousand (1,000) tons,
and the duration of the charter or
contract does not exceed six (6)
months, Five hundred pesos (P500);
and for each month or fraction of a
month in excess of six (6) months, an
additional tax of Fifty pesos (P50.00)
shall be paid.
(b) If the registered gross tonnage
exceeds one thousand (1,000) tons
and does not exceed ten thousand
(10,000) tons, and the duration of the
charter or contract does not exceed
six (6) months, One thousand pesos
(P1,000); and for each month or
fraction of a month in excess of six (6)
months, an additional tax of One
hundred pesos (P100) shall be paid.
(c) If the registered gross tonnage
exceeds ten thousand (10,000) tons
and the duration of the charter or
contract does not exceed six (6)
months, One thousand five hundred
pesos (P1,500); and for each month or
fraction of a month in excess of six (6)
months, an additional tax of One
hundred fifty pesos (P150) shall be
paid.
On each P5,000 or fractional part
thereof in excess of P5,000 an
additional tax of P20.00
Tax Reform for Acceleration and
Inclusion
a) If the registered gross tonnage of
the ship, vessel or steamer does not
exceed one thousand (1,000) tons,
and the duration of the charter or
contract does not exceed six (6)
months P1000; and for each month or
fraction of a month in excess of six (6)
months, an additional tax of P100 shall
be paid.
(b) If the registered gross tonnage
exceeds one thousand (1,000) tons
and does not exceed ten thousand
(10,000) tons, and the duration of the
charter or contract does not exceed
six (6) months, P2,000; and for each
month or fraction of a month in excess
of six (6) months, an additional tax of
P200 shall be paid.
(c) If the registered gross tonnage
exceeds ten thousand (10,000) tons
and the duration of the charter or
contract does not exceed six (6)
months, P3,000 and for each month or
fraction of a month in excess of six (6)
months, an additional tax of P300 shall
be paid.
Sec 236
(G) Persons Required to Register for Value-added Tax

Previous Law Tax Reform for Acceleration and

Inclusion

His gross sales or receipt for the past His gross sales or receipt for the past
12 months, other than those that are 12 months, other than those that are
exempted Section 109 A to U have exempted Section 109 (A) to (BB)
exceeds P1,915,000 have exceeds P3,000,000

"(H) Optional Registration for Value-added Tax of Exempt Person. - (1) Any
person who is not required to register for Value-added tax under Subsection (G)
hereof may elect to register for Value-added tax by registering with the
Revenue District Office that has jurisdiction over the head office of that person,
and paying the annual registration fee in Subsection (B) hereof.

(2) Any person who elects to register under this Subsection shall not be entitled
to cancel his registration under Subsection (F)(2) for the next three (3) years

Added provision: “Provided, That any person taxed under Section 24(A)(2)(b)
and 24(A)(2)(c)(a) of the NIRC who elects to pay the 8% tax on gross sales or
receipts shall not bot allowed to avail of this option”

Sec 237
Issuance of Receipt or Sales or Commercial Invoices.

All persons subject to an internal revenue tax shall, for each sale and transfer of
merchandise or for services rendered valued:

NIRC Tax Reform for Acceleration and

Inclusion
P25.00 or more P100 or more

Art 249. (Statutory offenses and Penalties)

Interest

NIRC Tax Reform for Acceleration and

Inclusion
20% per annum, or such higher rate as Double the legal interest rate for loans
may be prescribed by rules and or forbearance of any money in the
 regulations from the date prescribed absence of an express stipulation as
for its payment until the full payment set by the Banko Sentral ng Pilipinas
thereof. from date prescribed for payment
until the amount is fully paid

Sec. 254. Attempt to Evade or Defeat Tax

Penalty

NIRC Tax Reform for Acceleration and

Inclusion
P30,000 to P100,000 and 2 to 4 years P500,000 to P10,000,000 and 6 to 10
imprisonment years of imprisonment

Sec. 264, Failure or Refusal to Issue Receipts or Sales or Commercial Invoices

Violations Related to the Printing of such Receipts or Invoices and Other
Violations.
Penalty

NIRC Tax Reform for Acceleration and

Inclusion
P1,000 to P50,000 and 2 to 4 years of P500,000 to P10,000,000 and 6 to 10
imprisonment years of imprisonment

Sec. 264-A failure to Transmit Sales Data Entered on Cash Register Machine
(CRM)/ Point of Sale System (POS) Machines to the BIR’s Electronic Sales
Reporting System (New Section)
Penalty:

1/10 of 1% of the annual net income as reflected in the taxpayer’s audited

financial statement for the second year preceding the current taxable year for
each day of violation or P10,000, whichever is higher.

Provided, that should the aggregate number of days of violation exceeds 180
days within a taxable year, an additional penalty of permanent closure of the
taxpayer shall be Imposed. However, if the failure to transmit is due to force
majeure or any causes beyond the control of the taxpayer the penalty shall not
apply.

Sec. 264 -B. Purchase, Use, Possession, Sale or Offer to Sell, Installment, Transfer,
Update, Upgrade, Keeping or Maintaining of Sales Suppression Devices.
Penalty:

P500,000 but not more than P10,000,000 and suffer imprisonment of 2 years to 4
years. Provided that a cumulative suppression of electronic sales record in
excess of the amount of P50,000,000 is considered as economic sabotage and
shall be punished in the maximum penalty provided for under this provision.
Sec. 265-A Offenses Relating to Fuel Marking (New Provision)

Sale of Unmarked fuel in commercial

quantity
1st offense P2,500,000
2nd offense P5,000,000
3rd offense P10,000,000
Removal of the official fuel marking
agent from market fuel, and the
adulteration or dilution of fuel
intended for sale
1st offense P2,500,000
2nd offense P5,000,000
3rd offense P10,000,000

Making, Importing, selling, using or

possessing fuel markers without
express authority
Making, importing, selling, using or
possessing counterfeit fuel markers P1,000,000 to P5,000,000 and 4 to 8
Causing another person or entity to years of imprisonment
commit any of the (2) preceding acts
Causing the sale, distribution, supply
or transport of legitimately imported,
in-transit, manufacturer or procured
controlled precursors and essential
chemical, in diluted, mixtures or in
concentrated form to any person or
entity penalized under this Section
Implicating, incriminating or imputing P5,000,000 to P10,000,000 and 4 to 8
the commission of any violation of this years of imprisonment
Act
Any person who is authorized to 1 year and 1 day to 2 year and six
conduct fuel test, who issues false or months imprisonment
 fraudulent fuel test results knowingly,
willfully or through gross negligence

“The additional penalties of revocation of the license to practice his profession

in case of a practitioner, and the closure of the fuel testing facility may also be
imposed at the instance of the court”