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  • From Deposit: Currency Deposit Funds B.)

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    1. The document outlines Philippine tax rates for individuals on various types of income such as interest, royalties, dividends, prizes and capital gains. Tax rates range from 10-30% for residents and citizens and are higher at 20-35% for non-residents. 2. Certain types of interest income are exempt or taxed at reduced rates. Dividends from domestic sources and joint stock companies are taxed at 10-20%. Capital gains from share sales through the stock exchange include taxes, while property sales include capital gains tax on the unutilized portion of the sale price. 3. Several minor employee benefits are considered de minimis and exempt from tax, such as leave credits

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    Tax Rates

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    1. The document outlines Philippine tax rates for individuals on various types of income such as interest, royalties, dividends, prizes and capital gains. Tax rates range from 10-30% for residents and citizens and are higher at 20-35% for non-residents. 2. Certain types of interest income are exempt or taxed at reduced rates. Dividends from domestic sources and joint stock companies are taxed at 10-20%. Capital gains from share sales through the stock exchange include taxes, while property sales include capital gains tax on the unutilized portion of the sale price. 3. Several minor employee benefits are considered de minimis and exempt from tax, such as leave credits

    Copyright:

    © All Rights Reserved
    Als PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    10 Ansichten4 Seiten

    From Deposit: Currency Deposit Funds B.)

    Hochgeladen von

    thea balinas
    1. The document outlines Philippine tax rates for individuals on various types of income such as interest, royalties, dividends, prizes and capital gains. Tax rates range from 10-30% for residents and citizens and are higher at 20-35% for non-residents. 2. Certain types of interest income are exempt or taxed at reduced rates. Dividends from domestic sources and joint stock companies are taxed at 10-20%. Capital gains from share sales through the stock exchange include taxes, while property sales include capital gains tax on the unutilized portion of the sale price. 3. Several minor employee benefits are considered de minimis and exempt from tax, such as leave credits

    Copyright:

    © All Rights Reserved
    Als PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 4

    Individuals

    A. FINAL TAX RATES


    TAXPAYER
    -

    7. INTEREST INCOME RC , RA NRC , NRA NETB


    NRAET
    I

    a.) Interest from any currency 25%


    20 's .
    20%
    bank deposit from :
    i. Deposit substitutes

    ii. Trust funds


    b.) Income from depositary
    bank under 15 't EXEMPT EXEMPT
    EFCDU
    '

    c.) Interest income from


    LONGTERM EXEMPT 25%
    bank deposit EXEMPT
    ( at least 5- year maturity)

    I
    * '

    4%7.71:
    in 'm
    ; si . si .

    ✓ 3 less than 4 12%


    yrs -

    12%
    ✓ Less than 3 years 20T
    205 . .
    -
    A . FINAL TAX RATES
    TAXPAYER
    ⑧

    RC , RA NRC , NRA NETB


    2. Royalties
    NRAET
    -

    a.)
    Literary works , books '

    musical 10 l lot 251


    compositions
    . .
    .

    b.) other
    royalties
    261 . 201 . 251 .

    3 . Dividends

    a.) Dividends from : lol . 20 't .


    254 .

    ✓ Domestic

    ✓ Joint stock
    ✓
    Regional operating HQ

    b.) Share in distributable Nl


    10% 20 " 254
    after tax of partnership
    a
    .
    .

    (except Gpp) Association ,


    ,

    Joint Account , Taxable Joint


    .
    venture

    * Non -
    taxable JV

    1. construction projects
    2 .
    petroleum and
    energy operations
    A . FINAL TAX RATES
    TAXPAYER
    ⑧

    RC , RA NRC . NRANETB
    4. Prizes and winnings NRAET
    -

    a.) more than 10 on 201 . 201 . 252 .

    b.) amount not more than 100W Basic Inc . Basic Inc .

    251
    Tax Tax
    ,

    c.) other winnings regardless


    of amount 204 . 20T . 251 ,

    d.) pcsol Lotto


    °
    not more than 10 ON
    EXEMPT EXEMPT 25J
    °
    more than wow *
    .

    20T .
    EXEMPT 251 .

    B. CAPITAL GAINS

    ① sale of shares Not


    through LSE -

    15% OF CAPITAL GAIN -

    ~
    Through LSE :
    STT :
    6110 It
    of .

    ② CGT on sale of real property


    Sp

    }
    * used to residence
    acquire principal :
    Fmv HIGHEST x 6%
    Unutilized portion SP

    { ET
    ZV

    Tsp x

    * Inconsistency
    DE MINIMIS
    1.) Monetized unused VL credits
    of private employees not exceeding 10
    days
    2) Monetized value of vacation and sick leave credits paid to gov employees & officials
    3D medical cash allowance to
    dependents of employees not
    exceeding # 1500
    4.) # 20W rice subsidy or one sack of 50kg
    5.) Uniform and
    clothing allowance # 60W
    6) Actual
    yearly benefits not
    exceeding RIO on
    7)
    Laundry allowance F- 3001 month

    8.) Employee achievement awards C


    tangible personal property other than cash)
    not
    exceeding Plo on

    a ) Christmas
    gifts &
    major anniversary celebrations not PSN
    " ) exceeding
    Daily
    t

    meal allowance for OT


    and night I graveyard shift 25% of
    basic
    not
    exceeding
    minimum
    wage

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