OPT Flashcards
(32 cards)
Non- VAT registered with gross sales or receipt of 3,000,000 or less
3%
Tax on domestic carriers and keepers of garages
3%OPT
Exemption on “domestic carriers and keepers of garages”
Bancas, animal-drawn, two-wheeled
Tax on “pedicab” carrier
No BT
Common carrier engaged in the transportation of passenger
3% OPT
Tax on International carriers of goods and cargoes
3% on quarterly gross sales
Exempted on the tax on overseas dispatch
Gov’t, consular and embassy, public int’l orgs, PRESS
Basis of amusement tax
Gross receipts irrespective of whether or not any amount is charged for admission
Basis of tax on winnnngs
Winnings or dividends less cost of ticket- Winnings only if horse race
Radio/Television
3%
10,000,000
12%
Electric, Gas and Water
2%
PAGCOR
5%
Private Franchise
3%
3,000,000
12%
Overseas dispatch from Ph
10%
Non-banks- Interest from loans
5%
5years
1%
Non-banks- Dividends and equity shares in NI
0%
Non-banks- Royalties, profit from exchange, income from deposit
7%
Non-banks- Net trading gain within taxable year on foreign currency
7%
Finance companies- interest commissions, discounts and items treated as gross income
5%
Finance companies- Interest and the like lending
5%
5 years
1%
Life insurance premiums
2%
Life insurance- not authorized to transact in the Ph
4%
Agents of foreign insurance companies
Agent - 4% of collected
Owner - 5% of paid
Jai-alai and racetracks
30%
