Professional Documents
Culture Documents
NOTES:
A. Exemption applies if BSP approved(otherwise 20% FT) and held to maturity( otherwise 5%, 12%,20%)
B. If interest is from duly registered coop, expanded foreign currency by NRA/NRC, and CARP, exempt from FT
* if EFCD(domestic bank) of Resident FT is 7.5% ,if NR where co-depositor exist in PH (resident), FT is 50% of 7.5%
* if interest is from normal business course - regular income tax
* interest on foreign loans, applicable onlt to NRFC @20% FT
* OFW is considered NRC
C. GR: all dividends are subject to FT(EXC: stock and liquidating)
* Stock dividends is taxable if: 1. subsequently redeemed and cancelled 2. stock dividend in lieu of cash dividend 3. declared option
* FT exempt : 1. nontaxble inter-corporate principle (includes partnerships exc GPP) 2. from cooperatives 3. purely stock / purely liq
* for NRFC generally 30% but if with tax sparing rule 15%
* Normal tax: 1. received by GPP, exempt assocs 2. those not subject to FT and not exempt, 3. foreign dividends 4. GPP and exempt
* REIT dividends exempt to FT: Overseas Fil Investors (OFW NRC) exempt til aug 12 2018
*RIET on NRA/NRFC is exepmt if tax treaty says so
* taxable assocs etc are considered corp. Dividends are declared (share in NI) are also subject to 10% and 20%(NRAETB) FT to mem
* GR : what the member receives as share in NI is subject to 10% FT but if received is as expense of the assoc (compensation of rec
D.) Books and literary works WRITTEN are 10% and 20%, if on e copies and CDs considered other sources
E.) Cinematographic films and similar works (GR: other sources) paid to NRA/NRFC is subject to 25% FT
*If royalties are earned thru active income = NT
* If from abroad = NT
F.) Exempt Prizes : 1. without effort and without future services required 2. from sports supported by nat'l sports org.
* if earned abroad =NT
G.) Payments received by NRANETB within is subject to 25% FT not Income tax; NRFC 30%
H.) all other income of SUBCONTRACTORS are subject to NT (domestic) income within (foreign)
*Petroleum service contractors = NT
CORPORATIONS NOTES
DC RFC NRFC
B
20% 20% 30%
20% 20% 30% A
20% 20% 30%
20% 20% 30%
20% 20% 30%
7.5% 7.5% exempt 7.5% on residents
10.0% 10.0% exempt 10% on residents
exempt exempt 20%
exempt exempt 30% C
exempt exempt 10%
10% 10% 30%
15%
4.50%
7.50%
8% 8% 8% H
15%
N/A
RAETB) FT to members
mpensation of receipient) NT