Taxation in the Philippines

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Taxation in the Philippines is controlled by the Bureau of Internal Revenue (Philippines). Taxes in the Philippines range from 5% to 35%^[1]

1 Exceptions
2 Cedula
3 Value Added Taxes (VAT)
4 Excise taxes
5 References

Exceptions

individuals^[1] ......
45 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

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)

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

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]

References

^ ^a ^b ^c ^d ^e ^f Encyclopedia of Nations "Philippines - Taxation"

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Taxation in Asia

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Taxation in the Philippines