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2010 Tax Matrix - Special Rates

This document outlines special tax rates for certain individuals and corporations in the Philippines. For alien individuals, the tax rate is 15% on salaries and 5-34% on other income, depending on if they work for multinational companies, offshore banking units, or petroleum service contractors. Domestic corporations like proprietary schools and hospitals pay 10% tax if over 50% of income is unrelated, while GOCCs pay 32%. Resident foreign corporations like international carriers pay 2.5% tax on billings while regional headquarters pay 10% tax. Nonresident foreign corporations pay rates from 4.5-25% depending on their business.

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253 views2 pages

2010 Tax Matrix - Special Rates

This document outlines special tax rates for certain individuals and corporations in the Philippines. For alien individuals, the tax rate is 15% on salaries and 5-34% on other income, depending on if they work for multinational companies, offshore banking units, or petroleum service contractors. Domestic corporations like proprietary schools and hospitals pay 10% tax if over 50% of income is unrelated, while GOCCs pay 32%. Resident foreign corporations like international carriers pay 2.5% tax on billings while regional headquarters pay 10% tax. Nonresident foreign corporations pay rates from 4.5-25% depending on their business.

Uploaded by

cmv mendoza
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© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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INCOME TAXATION: SPECIAL RULES SPECIAL RATES FOR CERTAIN ALIEN INDIVIDUALS

Alien Employed by Regional or Area 15% 5% - 34%, 33%, 32% [regular tax rate] Headquarters and Regional Operating on gross or Headquarters of Multinational Companies income on FT rate for any other income earned [Sec 25 (C ) ] salaries, wages, from all other sources within the annuities, Philippines compensation, Alien Individual Employed by Offshore remuneration Banking Units [Sec 25 (D) ] and other emoluments Alien Individual Employed by Petroleum such as Service Contractor and Subcontractor honoraria and [Sec 25(E) ] allowances

SPECIAL RATES FOR CORPORATIONS


DOMESTIC CORPORATION Proprietary Educational Institutions and Hospitals 10% 35% on taxable income on entire taxable income, if total gross income from unrealted trade, business, or activity exceed 50% of total income same tax rate upon their taxable income in a similar business, industry or activity

GOCC, Agencies and Instrumentalities

32%

GSIS / SSS / PHIC / PCSO Depository Banks

EXEMPT 10%

on interest income from foreign currency transactions including interest income from foreign loans

RESIDENT FOREIGN CORPORATION International Air Carriers International Shipping Offshore Banking Units 2 1/2 % 2 1/2 % 10% on Gross Philippine Billings on Gross Philippine Billings any interest income derived from foreign currency loans granted to residents other than offshore banking units or local commercial banks, including local branches of foreign banks that may be authorized by the BSP to transact business with offshore banking units

EXEMPT

income derived by offshore banking units authorized by the Bangko Sentral ng Pilipinas (BSP), from foreign currency transactions with nonresidents, other offshore banking units, local commercial banks, including branches of foreign banks that may be authorized by the Bangko Sentral ng Pilipinas (BSP) to transact business with offshore banking units

Regional or Area Headquarters Regional Operating Headquarters NON RESIDENT FOREIGN CORPORATION Cinematographic Film Owner, Lessor or Distributor Owner or Lessor of Vessel Charted by Philippine Nationals Owner or Lessors of Aircraft, Machineries and Other Equipment
Atty. Marissa O. Cabreros (Ateneo School of Law)

EXEMPT 10%

on taxable income

25% 4.5% 7.5%

on Gross Income on Gross Rentals on Gross Rentals


January 2010

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