OPT

Question 0

Keepers of Garages

Answer 0

3 % subj to minimum

Question 1

Domestic Carriers

Answer 1

3 % subj to minimum

Question 2

Cars for rent or for hire

Answer 2

3 % subj to minimum

Question 3

Transportation contractors

Answer 3

3 % subj to minimum

Question 4

Owners of bancas

Answer 4

Not subject to 3 % subj to minimum

Question 5

Owners of animal drawn 2 wheeled vehicles

Answer 5

Not subject to 3 % opt subj to minimum

Question 6

Minimum of jeepney FOR HIRE

City
Province

Answer 6

2400
1200

X 174.6/6.38

Question 7

Minimum of public utility bus

Answer 7

30 below - 3600
>30 -50 - 6000
>50 - 7200
For both city and province

X 174.6/6.38

Question 8

Taxi

Answer 8

City 3600
Province 2400

X 174.6/6.38

Question 9

Car for hire with chaffeur

Answer 9

3000 both city and province

X 174.6/6.38

Question 10

Car for hire without chauffeur

Answer 10

1800 opt both city and province

X 174.6/6.38

Question 11

International air and shipping carriers of foreign registry

Answer 11

3 % opt of qtrly gross receipts

Question 12

International air and shipping carriers of Philippine registry

Answer 12

0% VAT on P to F or F to P

12% VAT on inside Phl

Question 13

Land transport of cargo

Answer 13

12 % vat

Question 14

Gas and water franchise

Answer 14

2 % opt on gross receipts

Question 15

Electric utilities

Answer 15

12 % vat on generation, transmission, and distribution

Question 16

Radio and tv broadcasting companies

Answer 16

3 % opt if annual gross receipts dont exceed 10M pesos

They can register as VAT taxpayers tho, but once option is exercised, it is IRREVOCABLE

Question 17

Other franchises

Answer 17

12 % vat

Question 18

Overseas dispatch, message, or conversation

Answer 18

Originating from PHL - 10 % opt

Expense of called and Will be withheld by service provider, to be paid 20d after quarter end

Question 19

Msgs transmitted by govt of PHL

Answer 19

Exempt from 10 % opt

Question 20

Diplomatic services - Msg transmitted by any embassy or consular office of a foreign govt

Answer 20

Exempt from 10 % opt

Question 21

Intl orgs - msgs transmitted by them who enjoy exemptions which the phil govt granted

Answer 21

Exempt from 10 % opt

Question 22

Msg from news service to news service

Answer 22

If dealing exclusively with collection of news,

Exempt from 10 % opt

Question 23

Life insurance premium

Answer 23

5 % opt of total premium collected

Except if

• life insurance premium refunded within 6 mos
• or premiums are collected outside PHL from nonresident persons

Question 24

Jai alai

Answer 24

30 % opt on gross receipts within of proprietor lessee or operator Whether or not admission is charged

Question 25

Race tracts

Answer 25

30 % opt on gross receipts within of proprietor lessee or operator Whether or not admission is charged

Question 26

Cabarets

Answer 26

18 % opt on gross receipts within of proprietor lessee or operator Whether or not admission is charged

Question 27

Night club or day club

Answer 27

18 % opt on gross receipts within of proprietor lessee or operator Whether or not admission is charged

Question 28

Cockpits

Answer 28

18 % opt on gross receipts within of proprietor lessee or operator Whether or not admission is charged

Question 29

Professional basketball games

Answer 29

15 % opt on gross receipts within of proprietor lessee or operator Whether or not admission is charged

Question 30

Boxing exhibitions

Answer 30

10 % opt on gross receipts within of proprietor lessee or operator ``` Whether or not admission is charged --- Exempt if... - 1 of contenders is a PHL CITIZEN - AND promoter is a PHL CITIZEN or an association 60 % filipino-owned ``` Mapa world or oriental CHAMPIONSHIPS

Question 31

Winnings/dividends from horse races

Answer 31

10 % opt on actual amt paid after deducting ticket cost 4 % if... Doubles (2 consecutive race winning) Forcastiquinella (winning number for 1st and 2nd in a race) Trifecta (for 1st to 3rd winning nos)

Question 32

IPO

Answer 32

Primary offering and secondary offering: % of IPO to outstanding shares... 25 % below - 4 % >25 - 33.3 - 2 % >33.3 - 1 % Primary offering - issuer pays within 30d from listing in stock exchange Secondary offering - pay 5 banking days from collection date

Question 33

Sale of stock in LOCAL stock exchange

Answer 33

1/2 of 1 % of gross selling price Final Withholding Tax already

Question 34

Interest, commission and discounts from lending activities of bank or non-bank performing quasibanking function

Answer 34

Gross receipts within: Maturity pd of instrument is 5 yr below - 5 % > 5 yrs - 1 %

Question 35

Income from financial leasing of bank or non-bank performing quasibanking function

Answer 35

Gross receipts within: Maturity pd of instrument is 5 yr below - 5 % > 5 yrs - 1 %

Question 36

Dividends and equity shares in net income of subsidiaries of bank or non-bank performing quasibanking function

Answer 36

0 % on gross receipts within

Question 37

Royalties, rentals of real or personal propty, profit from exhange and all gross income of bank or non-bank performing quasibanking function

Answer 37

7 % on gross receipts within

Question 38

Net trading gains on foreign currency, debt secs, derivatives, and other similar financial instruments of bank or non-bank performing quasibanking function

Answer 38

7 % of gross receipts within

Question 39

Interest, commission and discounts from lending activities of non-bank NOT performing quasibanking function

Answer 39

On gross receipts Maturity pd at 5 yrs below - 5 % >5 yrs - 1 %

Question 40

Income from financial leasing of non-bank NOT performing quasibanking function

Answer 40

On gross receipts Maturity pd at 5 yrs below - 5 % >5 yrs - 1 %

Question 41

Interest, commissions, discounts and all other gross income of non bank NOT performing quasi banking functions

Answer 41

Gross receipts 5 %