OTHER PERCENTAGE TAXES

COVERAGE TAX RATE & TAX BASE

1. Non-VAT registered persons (Sec. 116) 3% of GS/R
2. Domestic carriers & keepers of garages (Sec. 117) 3% of Actual GR or Minimum GR, w/ever higher
3. International carriers (Sec. 118) 3% of GR of transport from Phil. to foreign.
4. Franchises (Sec. 119)
›Gas and water utilities 2% of GR
›Radio/television broadcasting (GR ≤ 10M) 3% of GR
5. Overseas communication/message originating from Phil. (Sec. 120) 10% of Payment for services
6. Banks & non-bank financial intermediaries (Sec. 121)
›Income from lending activities based on remaining maturity:
•5 yrs. or less 5%
•more than 5 yrs. 1%
›Net trading gains of financial instruments w/in taxable yr. 7%
›All other gross income 7%
›Dividends, equity shares, & income of subsidiaries 0%
7. Other Banks & non-bank financial intermediaries (Sec. 122)
›All other gross income 5%
›Income from lending activities based on remaining maturity: 5%
•5 yrs. or less 1%
•more than 5 yrs.
8. Life insurance premium (Sec. 123) 2% of premiums collected
9. Agents of foreign insurance companies (Sec. 124)
›Agents of NRFC engaged in insurance business 4% of premiums collected
›Owners of property obtaining insurance from such NRFC 5% of premiums payment
10. Amusement taxes (Sec. 125) (all based on GR)
›Boxing exhibition 10% or exempt
›Professional Basketball games 15%
›Cockpits, cabarets, night/day clubs 18%
›Jai-alai and racetracks 30%
11. Tax on winnings (Sec. 126)
›Owner of winning horse 10% of winnings
›Bettor (ordinary or special winnings) 10% or 4% of winnings less cost of ticket
12. Sale of shares (Sec. 127)
›listed & traded thru LSE 6/10 of 1% of GSP
›thru IPO or Secondary PO
Proportion of disposed to total outstanding shares after listing
•Up to ¼ 4% of GSP
•Over ¼ but not more than 1/3 2% of GSP
•More than 1/3 1% of GSP

FILING AND PAYMENT OF OPT

For identified OPT taxpayers – 25 days after end of quarter (TRAIN)

Sale of shares
Listed & thru LSE – 5 banking days from date of collection
IPO – 30 days from date of listing
SPO – 5 banking days from date of collection