Académique Documents
Professionnel Documents
Culture Documents
c. Mixed Earners
i. Income from Com
▪ GR
ii. Income from BPP
a) GSGR/NOI N
▪ GR; or
▪ 8% OSD ie o
b) GSGR/NOI E
▪ GR
ession
pts and
me
Joint
hange
b) GSGR/NOI E
▪ GR
D. CG from Sale of RP
1. General Rule
◊ 6% FT
▪ On GSP or FMV; w
▪ Classified as Capi
other forms of co
◊ Sale to the Govt or agen
▪ Gains determined
E 3M AJV Association, Joint Account, J
Venture or Consortium
NTSE Not traded in the Stock Exch
and Other Winnings NCG Net Capital Gains
rrency bank deposits/substitutes GSP Gross Selling Price
FMV Fair Market Value
FT
TP Taxpayer
ooks, literary works, musical composition
NPR New principal Residence
ct to GR
or less
pt
or less from PCSO
sit or investment
-terminated before 5th yr; FT of
4 to 5 yrs
: 3-4 yrs
: less than 3 yrs
idends
d in SE
whichever is higher
ital Assets, including pacto de retro sales,
onditional sales, estate and trust.
ncies
d under either: S24 or here, at the option of TP
Joint
hange
◊ 6% FT
▪ On GSP or FMV; w
▪ Classified as Capi
other forms of co
◊ Sale to the Govt or agen
▪ Gains determined
2. Exception
◊ Exempt: Sale of Princip
▪ Proceeds within 1
construction or a
▪ PROVIDED:
- Historical c
NPR
- Commission
statement c
- Availed of o
- Unutilized P
GSP/F
pal Residence
18 months from sale, fully utilized in the
acquisition of new principal residence
ing
pines
ities,
neration and
onoraria and
ts
ntractor and
tment
→ XPN: Exemp
- 10k o
◊ 25% T
§ Cinematographic
◊ Exempt
§ Long term depos
→ XPN: If pre-
- 5%: 4
- 12%:
- 20%:
3. CG
◊ SS
§ 15% FT
▪ NCG from s
→ XPN:
◊ RP
§ 6% FT
▪ On GSP or F
▪ Classified a
other forms
§ Sale to the Govt o
▪ Gains deter
of TP
B. NETB
◊ 25% of total income
▪ Interest, cash and/or p
premiums, annuities, c
other fixed or determin
profits, and income and
◊ 15% FT
▪ NCG from sale of SS
→ XPN: those traded
◊ 6% FT
▪ On GSP or FMV of RP; w
▪ Classified as Capital As
forms of conditional sa
▪ Sale to the Govt or agen
→ Gains determined
C. AIE by RAHQ/ROHQ of MC
◊ 15% GI
pt
or less from PCSO OBU Offshore Banking Unit
PSCS Petroleum Service Con
c films and similar works Subcontractor
PTT Preferential Tax Treat
sit or investment GPP General Professional
-terminated before 5th yr; FT of Partnerships
4 to 5 yrs
: 3-4 yrs
: less than 3 yrs
sale of SS
those traded in SE
d in SS
whichever is higher
ssets, including pacto de retro sales, other
ales, estate and trust.
ncies
d under either: S24 or here, at the option of TP
ts
ntractor and
tment
forms of conditional sa
▪ Sale to the Govt or agen
→ Gains determined
C. AIE by RAHQ/ROHQ of MC
◊ 15% GI
▪ Salaries etc
◊ Provided:
▪ Same treatment shall a
same posts
D. AIE by OBU
◊ 15% GI
▪ Salaries etc
◊ Provided:
▪ Same treatment shall a
same posts
T
stered in SEC
h partner
as that of a corporation
or existing under the laws of the Phil. GITO Gross Income Tax Option
SRDA Sales return, discounts and allo
od
deemed to have been earned and spent equally COGS Cost of goods sold
UTBA Unrelated Trade, business or o
activity
TBA Trade, business or other activit
ption
PEIH Proprietary Educational Institu
P Hospital
ome tax collection to total tax revenues
GOCC A I Government-owned or Contro
GNP
Corporation, Agencies or
nsolidated Sector Financial Position to GNP
Instrumentalities
ms whose ratio of COGS to GSGR NE 55%
for 3 years PI Passive Income
GS II Interest Income
rectly incurred to produce the merchandise to
esent location and use LCB Local Commercial Banks
MCIT Minimum Corporate Income T
import, freight, and insurance
SOF Secretary of Finance
duction (raw material used, direct labor,
ad, freight insurance and others)
not covered
50% of total GI
to the entire TI
other
ty
utions and
olled
Tax
exercise or performanc
◊ PEI
▪ Any private school mai
individuals or group w
CHED or TESDA
C. GOCC A I
◊ Rate same as tax imposed on
in similar business, industry
→ XPN:
- Unless contrary i
- Certain GOCCs ex
1. GSIS
2. SSS
3. PhilHealth
4. Local Wate
D. Certain PI
1. Interest and Royalties
◊ 20% FT
▪ Received by DC
◊ 15% FIT
▪ II from depositor
2. CG on SS NTSE
◊ 15% NCG
→ XPN:
- Those SS so
3. EFCDS
◊ Exempt
▪ Income from For
RESIDENTS, OBU
→ XPN:
- Net income
payable by
- 10% FT on
RESIDENTS
the EFCDS
▪ Exempt
- Any Income
under EFCD
4. Intercorporate Dividends
◊ Not subject to tax
▪ Dividends receive
5. CG from Sale of RP
◊ 6% FT
▪ Gains from dispo
▪ Based on GSP or F
ce of its primary purpose or function
er Districts
old through SE
ed by a DC from another DC
E. MCIT on DC
1. Tax
◊ 2% GI
▪ When MCIT is gre
▪ From 4th year im
commencement o
2. Carry Forward of Excess Min
◊ Excess of MCIT over th
◊ Carried forward and cr
years
3. Relief from MCIT
◊ SOF authorized to susp
▪ If Corp suffers los
- Prolonged l
- Force majeu
- Legitimate
4. GI defined
◊ Same same from subse
3. International Carrier
◊ 2 1/2 of Gross Philippin
a. GPB: Internationa
▪ Gross reven
baggage, ca
▪ Irrespective
▪ Still include
- Ticke
ed by a DC from another DC
pend MCIT
sses
labor disputes
ure
business reverses
ection A hereof
ne Billings
al Air Carrier
nue derived from carriage of person, excess
argo and mail originating from the Phil.
e of place of sale, payment or issue
ed:
ets revalidated, exchanged or indorsed to
a. GPB: Internationa
▪ Gross reven
baggage, ca
▪ Irrespective
▪ Still include
- Ticke
anoth
a plan
- Flight
happe
ticket
b. GPB: Internationa
▪ Gross reven
from the Ph
payment
4. OBU
◊ Exempt
§ Income by OBU fr
RESIDENTS
→ XPN: net inc
regular IT
◊ 10% FT
§ II of OBU from Fo
◊ Exempt
§ Any income of no
es
m remittance without deductions
profit
ived by a foreign corporation
same are effectively connected with the
its trade and business in the Philippines
come tax
c. CG from Sale of SS NT
◊ 5% - not over 100
▪ NCG from s
d. Intercorporate Divide
◊ Not Subject to Ta
▪ Dividends r
5. Certain Income
a. Interest on Foreign Loa
◊ 20% FWT
b. Intercorporate Dividen
◊ 15% FWT
▪ C/P Dividen
TSE
0k; 10% in excess of 100k
sale or disposition of SS NTSE
ends
ax
received by RFC from DC
ippine Nationals
lease or charter fees
d Other Equipment
and fees
ans
nds
SE
0k; 10% in excess of 100k
sale or disposition of SS NTSE
▪ C/P Dividen
29 IMPOSITION OF A. IAET
IMPROPERLY ◊ 10% IATI
ACCUMULATED B. Corporations Subject to IAET
EARNINGS TAX 1. General Rule
◊ Apply to every compan
avoiding the income ta
◊ By permitting earnings
divided or distributed
2. Exception
◊ same does not apply to
a. Publicly-held cor
b. Banks and other
c. Insurance compa
2. Evidence Determinative of
◊ Earnings permitted to a
the business
→ XPN: if company
SE
0k; 10% in excess of 100k
sale or disposition of SS NTSE
o:
rporation
non-bank financial intermediaries
anies
ncome Tax
f Purpose
accumulate beyond the reasonable needs of
ble Income
adjusted by:
ax
gross income
l tax
ng loss carry-over deducted
gs Tax
e Income
◊ IATI means taxable income a
a. Income exempt from ta
b. Income excluded from
c. Income subject to final
d. Amount of net operatin
◊ Reduced by sum of:
a. Dividend actually or co
b. Income tax paid for the
◊ Adoption of fiscal period rule
onstructively paid
e taxable year
e applies
:
anized for profit
n
titution
phoon insurance companies
ociations operated as a sales agent