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"Business" or "in the course of trade or business" means the regular conduct or pursuit of a commercial
or economic activity, including transactions incidental thereto, by any person or government entity.
(Source: Philippine Code of Commerce)
There are three (3) major business taxes in the National Internal Revenue Code, namely:
(a) Manufacturers; or
(b) Importers,
(e) Cigars;
(f) Cigarettes;
(g) Automobiles;
The percentage taxes under the National Internal Revenue Code are:
(f) Tax on banks and non-bank financial intermediaries performing quasi-banking functions;
Subject to the basic rules (Section 109 of the National Internal Revenue Code):
(a) That regardless of annual gross sales or receipts, those who are in paragraphs (a) to (u) of Section
109 of the National Internal Revenue Code)
(b) That those who are not under paragraphs (a) to (u) of Section 109 of the National Internal Revenue
Code but whose gross sales in the preceding year did not exceed one million five hundred thousand
pesos (P1,500,000)
(2) Shall be subject to the 3% percentage tax (unless a different percentage tax applies, or unless the
taxpayer opted to be a value-added tax taxpayer..
(c) That manufacturers or importers who are subject to the excise taxes also pays either:
(1) The value-added tax; or
(2) The 3% percentage tax (if the sales in the preceding year did not exceed one million five hundred
thousand pesos (P1,500,000).