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VAT

Regular VAT
Transitional
Presumptive
Final WHT to Govt
Standard Input VAT on sales to GOVT

12%
2%
4%
5%
7%

OPT
Air/Water: DomCarrier Intl Route (MNL-HKG)
Air/Water: DomCarrier Dom Route (MNL-CEB)
Air/Water: IntlCarrier Intl Route (MNL-SFO)
Land: Common Carrier (subj to a floor gross receipt)
***Adjustment Factor of limit (common carrier)
Amusument: Doubles, Forecast, Trifecta, Ouinella
Amusument: Owner of winning horse and other races
Amusument: Jai-alai
Amusument: Cabaret, Day/night clubs,Cockpit
Amusment: PBA

0%
12%
3%
3%
2736.68%
4%
10%
30%
18%
15%

Amusement: Boxing

10%

Overseas Telecom (Outgoing)

10%

Franchise: Radio and TV: at least 10million


Franchise: Radio and TV: greater than 10million
Franchise: Gas/Water

3%
VAT
2%

Franchise: Others including Electric Disribution


Sale of Shares of Stock Local Exchange
Life Insurance
IPO: at least 25% of IPO: O/S Shares
IPO: at least 33.33% of IPO: O/S Shares
IPO: at least 33.34% of IPO: O/S Shares

12%
1/2 of 1%
5%
4%
2%
1%

Gross Receipts Tax on Banks & Quasi Banks + Non- Banks


Banks/Quasi-Banks
interest commission discounts from lending activities, financial leasing income
-Maturity at least 5 years
- Maturity more than 5 years
Dividend, Equity Shares in NI of subsidiary
Royalties and Rentals of Real and Personal Property , exchange
Net Trading Gains on financial instruments
interest commission discounts and all other items treated as GI under code

5%
1%
0%
7%
7%
NA

VAT Tresholds
at least 100K
at least 1919500
at least 1919500
at least 3199200
up to 1m of purchase price excluding VAT
greater than 1m purcahse price excluding vat

OPT or VAT
VAT
Low Cost Housing - Residential Lot
Low Cost Housing - House and Lot
deduct immediately as input VAT
allocate over useful life or 60months, shorter

VAT Qualifications
Group 1: Exempt on Import and Sale - AFBV
Group 2: Exempt on Sale only - C3ER

Group 3: Exempt on Importation only - PPF

(Agri, Feeds, Books, Vessels)


(Coop [agri, credit, non-credit non-electric coop])
(Export Sales [if VAT REG, subj to 0%, input tax CREDITE
(Export Sales [if non-VAT REG, cannot be claimed as inp
(Real Property)
Personal Household and Effects

Group 4: Others: PAMBEERILO

Professional Instrument and Implement (90 days)


To reside permanently in PH
Fuels (should be engaged in international transport)
Goods (should be engaged in international transport)
Supplies (should be engaged in international transport)
Lease at least 12,800 = exempt
Millers of palay-> rice, corn ->grits, sugar cane -> suga
Medical, Dental, Veterinary, Hospital = exempt (except
Educational institutions

(higher actual, 2% of BI)


(SMC RMP)
*

of
of
of
of
of
of
of
of
of

gross receipts
quarterly gross receipts
gross receipts
gross receipts
winnings less cost of ticket
winnings less cost of ticket
gross receipts
gross receipts
gross receipts

of gross receipts (exempt if world/oriental


championship, Filipino contender, Filipino
promoters)
of gross receipts (exempt if govt,
diplomatic serv, international org, news
services)
of gross receipts
of gross receipts
of gross receipts

of
of
of
of
of
of

gross receipts
sales price
premium (except LIF refunded w/in 6 mos, premiums collected outside PH)
gross selling price
gross selling price
gross selling price

Non- Bank

60months, shorter

s)
dit non-electric coop])
subj to 0%, input tax CREDITED or REFUNDED)
EG, cannot be claimed as input tax)

ffects

5%
1%
NA
NA
NA
5%

d Implement (90 days)


H
n international transport)
in international transport)
ed in international transport)
empt
n ->grits, sugar cane -> sugar = exempt
, Hospital = exempt (except those rendered by profs)