List of Taxes in the Philippines
Below is a comprehensive list of business-related and individual taxes in the Philippines.
Philippines Capital Gains Tax
Capital Gains Tax is a tax imposed on the gains presumed to have been realized by the seller from a sale, exchange, or other disposition of capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale in the Philippines.
Philippines Documentary Stamp Tax
Documentary Stamp Tax is a tax on documents, instruments, loan agreements and papers pertaining to the acceptance, assignment, sale or transfer of an obligation, rights, or property incident thereto in the Philippines.
Philippines Donor’s Tax
Donor’s Tax is a tax on a donation or gift, and is imposed on the gratuitous transfer of property between two or more persons who are living in the Philippines at the time of transfer.
Philippines Estate Tax
Estate Tax is a tax on the rights of a deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers which are made by law as equivalent to testamentary disposition in the Philippines.
Philippines Income Tax
Income Tax is a tax on all annual profits arising from property, profession, trades or offices or a tax on a person’s income, emoluments, profits and the like in the Philippines.
Philippines Percentage Tax
Percentage Tax is a business tax imposed on persons or entities who sell or lease goods, properties or services in the course of trade or business whose gross annual sales or receipts do not exceed P550,000 and are not VAT-registered in the Philippines.
Philippines Value Added Tax (VAT)
Value Added Tax (VAT) is a business tax imposed and collected from the seller or vendor of services in the course of trade or business on every importation, sale of properties (real or personal), or lease of goods and other properties (real or personal). It is an indirect tax, thus, it can be passed on to the buyer in the Philippines.
Philippines Withholding Tax on Compensation
Withholding Tax on Compensation is the final tax withheld from individuals receiving compensation income in the Philippines. It is the employer’s responsibility to withhold and pay these taxes on a monthly basis.
Philippines Expanded Withholding Tax
Expanded Withholding Tax is a kind of withholding tax which is prescribed only for certain payors and is creditable against the income tax due of the payee for the taxable quarter year in the Philippines.
Philippines Final Withholding Tax
Final Withholding Tax is a kind of withholding tax which is prescribed only for certain payors and is not creditable against the income tax due of the payee for the taxable year. Income Tax withheld constitutes the full and final payment of the Income Tax due from the payee on the said income in the Philippines.
Philippines Withholding Tax on Government Money Payments
Withholding Tax on Government Money Payments is the withholding tax withheld by government offices and instrumentalities, including government-owned or -controlled corporations and local government units, before making any payments to private individuals, corporations, partnerships and/or associations in the Philippines.