PERSONAL INCOME TAX RATES IN THE PHILIPPINES Flashcards
1
Q
it is a mandatory contributions levied on individuals or corporations by a government entity.
A
TAX
2
Q
- is a tax imposed on individuals or entities in respect of the income or profits earned by them.
A
INCOME TAX
3
Q
TAX RATE: 0-250,000
A
0%
4
Q
TAX RATE: 250,001-400,000
A
15%
5
Q
TAX RATE : 400,001-800,000
A
20%
6
Q
TAX RATE: 800,001-2M
A
25%
7
Q
TAX RATE: ABOVE 8M
A
35%
8
Q
TAX RATE: 2,000,001 - 8M
A
30%
