Philippines

Paying Taxes in

Philippines

Listed 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.

The information appearing on this page 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 183 economies. The most recent round of data collection for the project was completed in December 2010.

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To see indicator data for all economies, see the Paying Taxes page. To see how economies rank, see the Rankings page.

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 37 30.0% taxable profits 21
Local business tax 1 0.50% previous year turnover 8.8
Employer paid - Social security contributions 12 38 7.02% to 7.45% gross salaries 7.6
Real property tax 1 2.00% assessed property value 4.2
Employer paid - Health insurance 12 1.12157%-1.24615% gross salaries 1.7
Employer paid - Housing development fund 12 2% or PHP 100 per worker gross salaries 1.7
Tax on interest 1 20.00% interest 0.5
Community tax certificate 1 fixed fee (PHP 10,500) 0.3
Environmental tax 1 PHP 10,000 0.2
Employer paid - Employer's compensation 0 paid jointly PHP 10 per employee per month 0.2
Vehicle tax 1 basic fee + 24% vehicle's weight 0.1
BIR certificate 0 paid jointly fixed fee (PHP 500) 0
Tax on check transactions 1 PHP 1.5 per check number of checks 0
Tax on insurance contracts 1 P 0.5 per each P 4 insurance premium small amount
Stamp duty 1 various rates contract value small amount
Value added tax (VAT) 1 online filing 120 12.0% value added not included
Totals: 47 195 46.5
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