TAXATION

Capital Gains Tax is a tax imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital

assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. a) Real Properties - 6 % b) For Shares of Stocks not Traded in the Stock Exchange, on the net Capital Gains
- Not over P100,000 - 5% - Any amount in excess of P100,000 - 10%

 Donor's Tax is a tax on a donation or gift, and is imposed on the gratuitous transfer of property between two or more persons who

are living at the time of the transfer.

Net Gift Over

But not Over 100,000.00

The Tax Shall be exempt 0 P 2,000.00 14,000.00 44,000.00 204,000.00 404,000.00 1,004,000.00

Plus

Of the Excess Over

100,000.00 200,000.00 500,000.00 1,000,000.00 3,000,000.00 5,000,000.00 10,000,000.00

200,000.00 500,000.00 1,000,000.00 3,000,000.00 5,000,000.00 10,000,000.00 and over

2% 4% 6% 8% 10% 12% 15%

100,000.00 200,000.00 500,000.00 1,000,000.00 3,000,000.00 5,000,000.00 10,000,000.00

 Estate Tax / Inheritance Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and

beneficiaries at the time of death and on certain transfers which are made by law as equivalent to testamentary disposition.

Over

But not Over P 200,00.00

The Tax Shall be Exempt 0 P 15,000.00 135,000.00 465,000.00 1,215,000.00

Plus

Of the Excess Over

P200,000.00 500,000.00 2,000,000.00 5,000,000.00 10,000,000.00

500,000.00 2,000,000.00 5,000,000.00 10,000,000.00

5% 8% 11% 15% 20%

P 200,000.00 500,000.00 2,000,000.00 5,000,000.00 10,000,000.00

 Value-Added Tax is a form of sales tax. It is a tax

on consumption levied on the sale, barter, exchange or lease of goods or properties and services in the Philippines and on importation of goods into the Philippines. It is an indirect tax, which may be shifted or passed on to the buyer, transferee or lessee of goods, properties or services.

On sale of goods and properties - twelve percent (12%) of the gross selling price or gross value in money of the goods or properties sold, bartered or exchanged
On sale of services and use or lease of properties - twelve percent (12%) of gross receipts derived from the sale or exchange of services, including the use or lease of properties On importation of goods - twelve percent (12%) based on the total value used by the Bureau of Customs in determining tariff and customs duties, plus customs duties, excise taxes, if any, and other charges, such as tax to be paid by the importer prior to the release of such goods from customs custody; provided, that where the customs duties are determined on the basis of quantity or volume of the goods, the VAT shall be based on the landed cost plus excise taxes, if any. On export sales and other zero-rated sales - 0%

 Income Tax is a tax on all yearly profits arising from property, profession, trades or offices or as a tax on a persons income,

emoluments, profits and the like.

Amount of Net Taxable Income Over But Not Over P10,000

P10,000 P30,000 P70,000 P140,000 P250,000 P30,000 P70,000 P140,000 P250,000 P500,000

Rate
5% P500 + 10% of the Excess over P10,000 P2,500 + 15% of the Excess over P30,000

P8,500 + 20% of the Excess over P70,000

P22,500 + 25% of the Excess over P140,000 P50,000 + 30% of the Excess over P250,000 P125,000 + 32% of the Excess over P500,000 in 2000 and onward

P500,000