Other Percentage Tax

Question 1

are taxes imposed on the gross selling price of goods sold, bartered, exchanged, or imported, or gross receipt on the sale of services.

Answer 1

percentage taxes

Question 2

liable of annual gross sales or receipts do not exceed PHP 3M and those that are not VAT registered & has 3% of their gross quarterly sales or receipts

Answer 2

tax on persons exempt from VAT

Question 3

liable of cars for rent or hire driven by lessee including persons who transport passengers for hire & owners of bancas and owners of animal-drawn two-wheeled vehicles are exempted & has 3% of their gross quarterly sales or receipt

Answer 3

common carriers tax

Question 4

liable of international carriers, air or shipping, doing business in the Philippines & has 3& of their gross quarterly receipts derived from transport of cargo from the Philippines to another country

Answer 4

tax on international carriers

Question 5

liable of franchise holders or grantees of franchises on radio and/or television broadcasting and on gas and water utilities & has 3% for radio and/or television broadcasting companies not exceeding PHP 10M and 2% for gas and water utilities

Answer 5

franchise tax

Question 6

liable of persons paying for transmission of overseas dispatches, and other communication equipment services & has 10% of the amount paid to be collected and remitted by the person rendering the services

Answer 6

overseas communications tax

Question 7

liable to bank which may be a commercial bank, rural bank, a thrift bank, a development bank or a specialized government bank & tax rate of 5% if maturity period is 5 years or less; 1% if maturity period is more than 5 years, 0% on dividends and equity shares in net income of subsidiaries, 7% on royalties, rentals or property, real or personal, profits from exchange, and 7% on net trading gains within the taxable year on foreign currency

Answer 7

tax on banks and non-bank financial intermediaries performing quasi-banking functions

Question 8

liable to no-bank financial intermediary doing businesses in the Philippines from interest, commissions, discounts and all other items treated as gross income under the tax code & has 5% on the gross receipts

Answer 8

tax on other non-bank financial intermediaries

Question 9

liable to insurance companies & has 2% of the total premiums collected

Answer 9

tax on life insurance companies

Question 10

liable to proprietors, lessees or operators of amusement places & has 18% of the gross receipts of cockpits, 10% of the gross receipts of boxing exhibitions, 15% of the gross receipts of basketball games, 30% of the gross receipts of jai-alai and race tracks, 10% of the winning in jai-alai; 4% in case of double bets, and 10% of the winning in race horses

Answer 10

amusement tax

Question 11

liable to stockbroker who effected the sale, corporate issuer in the case of an initial public offering & 6/10 of 1% based on the gross selling price of shares sold or disposed in the case of shares of stock listed and traded through the local stock exchange

Answer 11

sale, barter or exchange of shares of stock

Question 12

who are required to pay the percentage taxes?

Answer 12

any person subject to percentage tax

Question 13

when to file?

Answer 13

• within 25 days after the end of each taxable quarter for the filing of quarterly percentage tax return
• 20 days if overseas and winnings
• within 5 banking days on sale of shares of stock listed and traded
• 30 days from the date of listing in case of primary offering