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Tax > Withholding rates > Flashcards

Withholding rates Flashcards

0
Q

Interest and other income pays on foreign currcy txns payable to OBU and FCDU

A

C - 10

Fwt

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1
Q

Interest on foreign loans payable to NRFC

A

C - 20

Fwt

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2
Q

Cash/Prop dividend by DC to RC, NRC, RA

A

I - 10

Fwt

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3
Q

Cash/Prop div by DC to NRFC

A

15 with reciproc
30 w/o reciproc

Fwt

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4
Q

Cash/prop div by DC to NRAETB

A

20 %

Final Withholding Tax

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5
Q

Distributive share of individual partner in GCP

A

Rc, nrc, ra - 10

Nra - 20

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6
Q

Test

A

Rest

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7
Q

All royalties to each individual (except books, lit, music)

A

RC, NRC, RA, NRAETB - 20 %
Nranetb - 25 GIW

Fwt

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8
Q

Royalties to corporations except on books and cinematographic films

A

Dc and rfc - 20 %
Nrfc - normal 30 %

Fwt

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9
Q

On prizes exceeding 10,000

A

I- 20 (except nranetb)

Fwt

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10
Q

Winnings

A

I only - 20 (except nranetb)

Fwt

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11
Q

Branch remittances

A

C - 15

Except peza, sbma, and cda registered

Fwt

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12
Q

Gross rentals, lease and charter fees pd to __ lessor of foreign vessels

A

NR Corporation - 4.5 %

Final Withholding Tax

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13
Q

Gross rentals, lease and charter fees pd to __ lessor of foreign aircraft, machinery, and equipment

A

NR Corporation 7.5 %

Final Withholding Tax

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14
Q

On payments to oil exploration service contractors/ sub contractors

A

Individual - 8 %

Corporation - 8 %

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15
Q

Compensation pay to citizen/alien employed by Foreign Petroleum service contractors/subcontractors

A

Individual - 15 % ((only for executive, managerial, technical posn’s)
Final Withholding Tax

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16
Q

Compensation pay to citizen/alien employed by OBUs

A

Individual - 15 % (only for executive, managerial, technical posn’s)

Final Withholding Tax

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17
Q

Compensation pay to citizen/alien employed by Regional/ Area HQ and ROHQ of Multinational corps

A

Individual - 15% (only for executive, managerial, technical posn’s)
Final Withholding Tax

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18
Q

All payments to NRANETB

A

Individual - 25 %
Except on sale of shares of stock and real propty

Final Withholding Tax

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19
Q

Payments to ____ Individual or ___ Corporation cinematographic film owners/lessors/distributors

A

NR Individual - 25 % of GI
Foreign Corporation 25 % of gross income

Final Withholding Tax

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20
Q

Payments to NRFC in general

A

Corporation - 30 % of GROSS INCOME

Final Withholding Tax

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21
Q

Royalties to _____ Individual on cinematographic films and similar works

A

Nraetb - 25 % GIW
NRANETB - 25% GIW
Final Withholding Tax

22
Q

Final tax on interest or other payments upon taxfree covenant bonds, mortgages, deeds of trust or other obligations under sec 57c of nirc

A

Individual - 30 %

Final Withholding Tax

23
Q

Royalties for books, literary, musical works

A 
Individual - 10 %
Except nranetb (normal giw 25 %)

Final Withholding Tax

24
Q

Tax informer’s cash reward

A

Individual - 10 %
Corporation 10 %

Except for gov’t peeps
Not exceeding 1 million

Final Withholding Tax

25
Q

Interest income on foreign currency deposits

A

Individual 7.5 %
Corporation 7.5 %

Except all nonresidents (EXEMPT)

Final Withholding Tax

26
Q

Int inc on peso savings deposit

A

Individual - 20 %
Corporation - 20 %

Final Withholding Tax

27
Q

Int inc on peso time deposits

A

Individual - 20 %
Corporation - 20 %

Final Withholding Tax

28
Q

Int inc on deposit substitutes

A

Individual - 20 %
Corporation - 20 %

Final Withholding Tax

29
Q

Int inc on govt securities

A

Individual - 20 %
Corporation - 20 %

Final Withholding Tax

30
Q

Int inc on preterminated long term deposit

A

Holding pd:

For Individual
<5yrs 5%

For Corporation
20%

Final Withholding Tax

31
Q

The amt withheld by payor is to be filed and paid on or before? What form?

A

On or before 10th of each month following payment of income

Bir form 1602 - interests
Bir form 1603 - fbt
Bir form 1601 - everything else

32
Q

Professional talent fees (lawyers, cpa, etc)

A

Less than or equal to 720k annual income - 10 %
More than 720k - 15 %

Creditable Withholding Tax

33
Q

Pro entertainers,

A

Less than or equal to 720k annual income - 10 %
More than 720k - 15 %

Creditable Withholding Tax

34
Q

Pro athletes

A

Less than or equal to 720k annual income - 10 %
More than 720k - 15 %

Creditable Withholding Tax

35
Q

Movie, stage, radio, television and musical directors

A

Less than or equal to 720k annual income - 10 %
More than 720k - 15 %

Creditable Withholding Tax

36
Q

Income pay to partners of GPP

A

Less than or equal to 720k annual income - 10 %
More than 720k - 15 %

Creditable Withholding Tax

37
Q

Mgmt and technical consultants

A

Individual 10 %

Creditable Withholding Tax

38
Q

Bookkeeping agents and agencies

A

Individual 10 %

Creditable Withholding Tax

39
Q

Insurance agents and adjusters

A

Individual - 10 %

Creditable Withholding Tax

40
Q

Fees of directors not employees of company

A

Individual 15 %

Creditable Withholding Tax

41
Q

Real propty rentals

A

Individual 5 %
Corporation 5 %

Creditable Withholding Tax

42
Q

Cinematographic film rentals

A

Individual 5 %
Corporation 5 %

Creditable Withholding Tax

43
Q

Prime contractors / Sub contractors

A

Individual 2 %
Corporation 2 %

Creditable Withholding Tax

44
Q

Income distrbn to beneficiaries of estates and trusts

A

Individual - 15 %

Creditable Withholding Tax

45
Q

Payments by credit card companies

A

Individual 0.5 %
Corporation 0.5 %

Creditable Withholding Tax

46
Q

Payments by govt unit to LOCAL SUPPLIERS (of goods)

A

Individual 1 %
Corporation 1 %

Creditable Withholding Tax

47
Q

Payments by govt unit to SUPPLIERS OF SERVICES

A

Individual 2 %
Corporation 2 %

Creditable Withholding Tax

49
Q

Income payments by top 5000 corporations to their local suppliers

A

Individual 1 %
Corporation 1 %

Creditable Withholding Tax

50
Q

Addtl payments to government personnel from importers, shipping, and airline companies for _____ services

A

Overtime services

Individual - 15 %
Creditable Withholding Tax

51
Q

Transaction of realtor registered with HLURB for SOCIALIZED sale of H&L or Lot not exceeding SP of ___ for Metro Mnl and ____ in other areas

Sale is real property that is an ORDINARY ASSET (not capital)

A

180k sp in MM
150k sp in other areas

0%

Creditable Withholding Tax

52
Q

Realtor not HLURB-ed, and Habitually engaged in real estate business therefore real estate is INVENTORY

Sale is real property that is an ORDINARY ASSET (not capital)

A

SP less or equal to 500k 1.5 %
>500 - 2M 3 %
>2M 5 %

53
Q

Realtor not HLURB-ed, and not Habitually engaged in real estate business

Sale is real property that is an ORDINARY ASSET (not capital)

A

6 %

Creditable Withholding Tax

56
Q

Brokers and agents

A

Individual - 10 %
Corporation - 10 %

Creditable Withholding Tax

Tax (4 decks)

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