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 Employed by Offshore remuneration Banking Units [Sec [Sec 25 (D) ] and other emoluments Alien Individual Employed Employed by Petroleum such as Service Contractor and Subcontractor honoraria and [Sec 25(E) ] allowances
SPECIAL RATES FOR CORPORATIONS D O ME ME S T I C CO R PO R A T IIO O N
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
GOCC, Agencies and Instrumentalities
32%
same tax rate upon their taxable income in a similar business, industry or activity
GSIS / SSS / PHIC / PCSO Depository Banks
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EXEMPT 10%
2 1/2 % 2 1/2 % 10%
on interest income from foreign currency transactions including interest income from foreign loans
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
EXEM EX EMPT PT
inc ncom ome ed de eri riv ved by offs offsho hore re ban anki king ng 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
EXEMPT 10%
on taxable income
25%
on Gross Income
4.5%
on Gross Rentals
7.5%
on Gross Rentals
N ON ON R E S I D E N T F O OR RE IGN CO R PO R AT I O N
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) Atty
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