OPT

Question 1

Non- VAT registered with gross sales or receipt of 3,000,000 or less

Answer 1

3%

Question 2

Tax on domestic carriers and keepers of garages

Answer 2

3%OPT

Question 3

Exemption on “domestic carriers and keepers of garages”

Answer 3

Bancas, animal-drawn, two-wheeled

Question 4

Tax on “pedicab” carrier

Answer 4

No BT

Question 5

Common carrier engaged in the transportation of passenger

Answer 5

3% OPT

Question 6

Tax on International carriers of goods and cargoes

Answer 6

3% on quarterly gross sales

Question 7

Exempted on the tax on overseas dispatch

Answer 7

Gov’t, consular and embassy, public int’l orgs, PRESS

Question 8

Basis of amusement tax

Answer 8

Gross receipts irrespective of whether or not any amount is charged for admission

Question 9

Basis of tax on winnnngs

Answer 9

Winnings or dividends less cost of ticket- Winnings only if horse race

Question 10

Radio/Television

Answer 10

3%
10,000,000
12%

Question 11

Electric, Gas and Water

Answer 11

2%

Question 12

PAGCOR

Answer 12

5%

Question 13

Private Franchise

Answer 13

3%
3,000,000
12%

Question 14

Overseas dispatch from Ph

Answer 14

10%

Question 15

Non-banks- Interest from loans

Answer 15

5%
5years
1%

Question 16

Non-banks- Dividends and equity shares in NI

Answer 16

0%

Question 17

Non-banks- Royalties, profit from exchange, income from deposit

Answer 17

7%

Question 18

Non-banks- Net trading gain within taxable year on foreign currency

Answer 18

7%

Question 19

Finance companies- interest commissions, discounts and items treated as gross income

Answer 19

5%

Question 20

Finance companies- Interest and the like lending

Answer 20

5%
5 years
1%

Question 21

Life insurance premiums

Answer 21

2%

Question 22

Life insurance- not authorized to transact in the Ph

Answer 22

4%

Question 23

Agents of foreign insurance companies

Answer 23

Agent - 4% of collected

Owner - 5% of paid

Question 24

Jai-alai and racetracks

Answer 24

30%

Question 25

Cockpits, cabarets, clubs

Answer 25

18%

Question 26

Professional basketball games

Answer 26

15%

Question 27

Boxing

Answer 27

10%

Question 28

Threshold Residential Lot

Answer 28

1.5 million

Question 29

Threshold House and Lot

Answer 29

2.5million

Question 30

Threshold Low-cost housing

Answer 30

3million

Question 31

Socialized housing

Answer 31

H&L - 450k

Lot- 180k

Question 32

Threshold rental of residential units

Answer 32

15k or more per month not exceeding 3,000,000