Philippines

Paying Taxes in

Philippines

Below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in December 2012.

Compare Philippines to 188 other economies.

Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Corporate income tax 1 online filing 42 30% taxable profit 19.6
Local business tax 1 0.5% previous year turnover 8.8
Employer paid - Social security contributions 1 online filing 38 7.02% to 7.45% gross salaries 7.6
Real property tax 1 2% assessed property value 4.2
Employer paid - Housing development fund 12 2% or P100 per worker gross salaries 1.7
Employer paid - Health insurance 12 1.12157% to 1.24615% gross salaries 1.2
Tax on interest 1 online filing 20% interest 0.5
Community tax certificate 1 P 10,500 fixed fee 0.3
Environmental tax 1 P 10,000 fixed fee 0.2
Employer paid - Employer's compensation 0 paid jointly P 10 per employee per month 0.2
Vehicle tax 1 basic fee + 24% vehicle weight 0.1
Tax on check transactions 1 online filing P 1.5 per check number of checks 0 small amount
BIR certificate 0 paid jointly P 500 fixed fee 0
Tax on insurance contracts 1 online filing P 0.5 per each P 4 insurance premium .. small amount
Stamp duty 1 online filing various rates contract value .. small amount
Value added tax (VAT) 1 online filing 113 12% value added .. not included
Totals: 36 193 44.5

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