Professional Documents
Culture Documents
Business Taxes
Business Taxes
Seller
3rd P40 P4.80 44.80 P60 P7.20 P67.20 P2.40
Seller
4th P60 P7.20 67.20 P90 P10.80 P100.80 P3.60
Seller
Consum P90 P10.80 100.80
er
VAT tax rates:
Tax Base:
Example:
Example:
i. dealers in securities;
j. lending investors;
k. transportation contractors on their transport
of goods or cargoes, including persons who
transport goods or cargoes for hire and other
domestic common carriers by land relative to
their transport of goods or cargoes;
l. common carriers by air and sea relative to
their transport of passengers, goods or cargoes
from one place in the Philippines to another
place in the Philippines;
DOMESTIC:
Rate: 10%
Amusement Tax
Tax Rates:
Boxing exhibition -10%
Cockpits, night clubs or cabarets -18%
Professional basketball -15%
Jai-alai and race tracks -30%
Rates:
Winnings in horse race/jai alai -10%
Winnings from double forecast,
quinella and trifect bets - 4%
Owner of winning horse -10%
Stock Transaction Tax
Rate: of 1%
Basis: gross selling price or the gross value of
money
Illustration:
Assume that S, a VAT-registered business,
sold merchandise worth P100,000 to the
government. The net proceeds would be:
Sales P100,000
Add: VAT 12,000
Total 112,000
Less: Final withholding VAT P5,000
CWIT on sales 1,000 6,000
Net amount P106,000