Other Percentage Taxes

Section Name Rate Base Condition

VAT exempt from Sec. 109, or
116 Percentage Tax (PT) on VAT Exempt Sales 3% Gross Sales / Gross Receipts
GR 1,919,500 and not VAT registered
Transport by land
117 Common Carriers Tax (CCT) 3% Gross Receipts
Transport of passengers
Transport of goods
118 CCT on International Carriers 3% Gross Receipts
From the Philippines to other countries
GR 10,000,000
PT on Franchises: Radio / TV Broadcasting Companies 3% Gross Receipts
Not VAT registered
119 PT on Franchises: Water Utilities 2% Gross Receipts
3% GR 1,919,500 and not VAT registered
PT on Franchises: Private Companies and other franchises Gross Receipts
12% VAT GR > 1,910,500 and / or VAT registered
120 Overseas Communication Tax 10% Amount paid for the service Transmitted from the Philippines
Gross Receipts Tax on Banks and Quasi-Banks
GRT: Interest, Commissions & Discounts from LENDING 5% Remaining Maturity Period 5 years
Gross Income
Activities 1% Remaining Maturity Period > 5 years
GRT: Dividends & Equity Shares in NI of Subsidiary 0% Gross Income
GRT: Royalties / Rentals / Other Gross Income 7% Gross Rentals
121
GRT: Net Trading Gain 7% Net Trading Gain Within the taxable year
Gross Receipts Tax on Other Financial Intermediaries Without Quasi-Banking Functions
GRT: Interest, Commissions & Discounts from LENDING 5% Remaining Maturity Period 5 years
Gross Income
Activities 1% Remaining Maturity Period > 5 years
GRT: All Other Income Treated as Gross Income 5% Gross Income
 Other Percentage Taxes
123 Tax on Life Insurance Premiums 2% Premiums Collected
Tax on Agents of Foreign Insurance 4% Premiums Collected
124
Tax on Direct Insurance From Abroad 5% Premiums Paid Without the sevices of an agent
Amusement Tax (AT): Jai-alia & Racetracks 30% Gross Receipts
AT: Cockpits, Cabarets or Clubs 18% Gross Receipts
AT: Professional Basketball Games 15% Gross Receipts
125
Not a World or Oriental Championship
AT: Boxing Exhitions 10% Gross Receipts None of the contenders are citizen
Not promoted by citizens or 60% Fil Corp
Tax on Winnings: Regular Bet 10% Winnings - Cost of Ticket
126 Tax on Winnings: Other Bets 4% Winnings - Cost of Ticket
Tax on Winnings: Horse Owners 10% Winnings
Section Name Rate Base Condition
Stock Transaction Tax 1/2 of 1% Gross Selling Price Listed and traed through local stock exchange
4% Gross Selling Price Shares Sold/Outstanding Shares 25%
Tax on Sale through IPO (IPO Tax) 2% Gross Selling Price Shares Sold/Outstanding Shares 33 1/3%
127
1% Gross Selling Price Shares Sold/Outstanding Shares > 33 1/3%
Exempt Sale by Issuing Corporation
Tax on Follow-on Follow-through
1/2 of 1% Gross Selling Price Sale by Stockholder