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Income Tax Overview Table (Kind of Taxpayer To Deduction)

The document summarizes income tax rates in the Philippines under the TRAIN Law. It provides tax rates for different types of income (e.g. interest, dividends, royalties) and for different types of taxpayers (e.g. resident individual, non-resident alien, domestic corporation). Tax rates range from exempt to 30% depending on the income type and taxpayer classification. Deductions are allowed in some cases but not for others like passive income of non-resident aliens.

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Danielle Sophia Garduno
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52 views2 pages

Income Tax Overview Table (Kind of Taxpayer To Deduction)

The document summarizes income tax rates in the Philippines under the TRAIN Law. It provides tax rates for different types of income (e.g. interest, dividends, royalties) and for different types of taxpayers (e.g. resident individual, non-resident alien, domestic corporation). Tax rates range from exempt to 30% depending on the income type and taxpayer classification. Deductions are allowed in some cases but not for others like passive income of non-resident aliens.

Uploaded by

Danielle Sophia Garduno
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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INCOME TAX, NIRC as amended by TRAIN LAW (Section 22-27)

TAX W/ W/ B – Passive Income C D (FWT) Deductions


A
PAYER IN OUT (FWT) (FWT)
Interest on Bank Dep. P&W Lotto & PCSO Royalties Dividends (CGT SS) (CGT RP)
Longter Sold Sold Literary Not CIE : No
m PH out Musical Traded deductions
Peso Foreign >10K 10K< >10K 10K< DC FC Traded w/ EX
allowed (must
be ET/B/P)
NIT Exempt 15% Stock 6% FMV/ CIE: no
or with on Transactio GSP/ZV deduction
Sec. (highest) allowed
RC   8% 20% 15% exceptions 20% A 20% Exempt 20% 10% 10% A income n Tax
24A SEP or SFI:
0.6 of
GI <3M : 8% or
1%
NIT, if NIT,
NRC   same same same same same same same same choice between
RA   same same same N/A same same same same OSD (40% of GI)
NRAET and Itemized
  same same same N/A same 20% A same same Deductions
B
NRA- Gross Income Tax (GIT) – 25% final tax (withheld immediately) same same GI > 3M: NIT, if
 
NETB EX N/A NIT choice
MNC4 NIT Gross Income Tax (GIT) – 25% final tax (withheld immediately) EX between OSD
OBU5 Applicable 40% of GI, and
Itemized
PSC6
Deductions

MIE:
Compensation:
no deductions

ET/B/P: same
rules as above
NIT 7
ICDT
8
same Choice between
same 20% N/A N/A same A N/A A same
DC   30% Exempt EX N/A OSD of 40% of
Other Taxes: MCIT (2%), IAET (10%) GI or Itemized
Deuctions
NIT ICDT
same 20% N/A N/A same A N/A A same N/A
RFC9   30% Exempt
Other Taxes: MCIT (2%), BPRT (15%)

GIT ICDT N/A


NRFC   Final Tax – 30% on the gross A same N/A
30% 15%

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