Escolar Documentos
Profissional Documentos
Cultura Documentos
- any person whose sales or receipts are exempt of this Code from the payment of VAT and
who is not VAT Registered person shall pay OPT. (Sec 116)
- Exception: In domestic carriers & keepers of garage, 3 % of gross quarterly receipts. They
are not subject to local taxes. E.g. paying parking lots
- However, subject to OPT their gross receipts derived FROM TRANSPORT OF CARGO.
- Franchise on electric, gas, & water - 2% Gross Receipt Tax (GRT) (WITHOUT option to
register as VAT taxpayer.
- Boxing Exhibitions - 10% of GR; There is exception where it is exempt - wherein World or
Oriental Championships in any division is at stake, provided at least one of contender is a
filipino citizen and it is promoted by a filipino citizen or domestic corporation or association
at least 60% of the capital is owned by filipino citizens;
Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded through Local
Stock Exchange or thru Initial Public Offering (Sec 126)
A. Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded through Local
Stock Exchange
- At the rate of 6/10 of 1% of the gross selling price or gross value in money
B. Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded through Initial
Public Offering (closely held corporation)
- If up to 25% of the outstanding shares is sold, bartered, or exchanged - 4% of Gross
Selling Price or Gross Value in Money
- If over 25% but not over 33 1/3% - 4% of Gross Selling Price or Gross Value in Money