Professional Documents
Culture Documents
TAX BASIS
REQUIRED
TAX
FILLING
When
RATES
What?
?
Gross Sales or
Receipts
Monthly
20 days
following
the end of
the
taxable
month
Monthly
20 days
following
the end of
the
taxable
month
3%
3%
1%/ 2%
Gross receipts
3%
SPECIFIC OPT (subject to OPT even if the annual gross receipts of the business exceed VAT
Threshold)
Domestic carriers and keepers of garages, Sec. 117 of NIRC RA. 9337, includes:
1) Cars for rent or for hire driven by the lessee
2) Transportation contractors, including those paid to transport passengers
3) Other domestic carriers by land for the transport of passengers (except
owners of bancas and of animal-drawn two-wheeled vehicles
4) Keepers of garages
International Air and Shipping Carriers
1) Foreign corporation permitted to do business in the Philippines (Philippine
origin only) transport of:
a) PASSENGERS
b) CARGOES; Sec 113 of NIRC RA. 10378
2) Domestic corporation engaged in the transport of passengers and/or
cargoes by:
a) DOMESTIC TRANSPORT
b) FOREIGN TRNSPORT
Gross receipts
Or Minimum
quarterly or
monthly Gross
receipts (Sec. 117
of NIRC RA. 8424)
Whichever is
HIGHER
3%
Gross Philippine
Billing
(revenue from
passage of persons,
excess baggage,
cargo and or mail
originating from the
Philippines)
VATexempt
3% OPT
Monthly
20 days
following
the end of
the
taxable
month
Monthly
20 days
12%VAT
0% VAT
PERCENTAGE TAX
-also called NON-VAT
-treatment:
1) Buyer/ one who shoulders the tax- imputed part of COST OF GOODS purchased/ operating expense (Input VAT- non-creditable)
2) Seller/ actual payer or remitter- not allowed to collect VAT but he can add or impute the amount of OPT on the selling price
-characteristics:
1)
2)
3)
4)
5)