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Withholding rates Flashcards

(54 cards)

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0
Q

Interest and other income pays on foreign currcy txns payable to OBU and FCDU

A

C - 10

Fwt

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1
Q

Interest on foreign loans payable to NRFC

A

C - 20

Fwt

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2
Q

Cash/Prop dividend by DC to RC, NRC, RA

A

I - 10

Fwt

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3
Q

Cash/Prop div by DC to NRFC

A

15 with reciproc
30 w/o reciproc

Fwt

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4
Q

Cash/prop div by DC to NRAETB

A

20 %

Final Withholding Tax

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5
Q

Distributive share of individual partner in GCP

A

Rc, nrc, ra - 10

Nra - 20

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6
Q

Test

A

Rest

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7
Q

All royalties to each individual (except books, lit, music)

A

RC, NRC, RA, NRAETB - 20 %
Nranetb - 25 GIW

Fwt

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8
Q

Royalties to corporations except on books and cinematographic films

A

Dc and rfc - 20 %
Nrfc - normal 30 %

Fwt

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9
Q

On prizes exceeding 10,000

A

I- 20 (except nranetb)

Fwt

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10
Q

Winnings

A

I only - 20 (except nranetb)

Fwt

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11
Q

Branch remittances

A

C - 15

Except peza, sbma, and cda registered

Fwt

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12
Q

Gross rentals, lease and charter fees pd to __ lessor of foreign vessels

A

NR Corporation - 4.5 %

Final Withholding Tax

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13
Q

Gross rentals, lease and charter fees pd to __ lessor of foreign aircraft, machinery, and equipment

A

NR Corporation 7.5 %

Final Withholding Tax

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14
Q

On payments to oil exploration service contractors/ sub contractors

A

Individual - 8 %

Corporation - 8 %

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15
Q

Compensation pay to citizen/alien employed by Foreign Petroleum service contractors/subcontractors

A

Individual - 15 % ((only for executive, managerial, technical posn’s)
Final Withholding Tax

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16
Q

Compensation pay to citizen/alien employed by OBUs

A

Individual - 15 % (only for executive, managerial, technical posn’s)

Final Withholding Tax

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17
Q

Compensation pay to citizen/alien employed by Regional/ Area HQ and ROHQ of Multinational corps

A

Individual - 15% (only for executive, managerial, technical posn’s)
Final Withholding Tax

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18
Q

All payments to NRANETB

A

Individual - 25 %
Except on sale of shares of stock and real propty

Final Withholding Tax

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19
Q

Payments to ____ Individual or ___ Corporation cinematographic film owners/lessors/distributors

A

NR Individual - 25 % of GI
Foreign Corporation 25 % of gross income

Final Withholding Tax

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20
Q

Payments to NRFC in general

A

Corporation - 30 % of GROSS INCOME

Final Withholding Tax

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21
Q

Royalties to _____ Individual on cinematographic films and similar works

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A

Nraetb - 25 % GIW
NRANETB - 25% GIW
Final Withholding Tax

22
Q

Final tax on interest or other payments upon taxfree covenant bonds, mortgages, deeds of trust or other obligations under sec 57c of nirc

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A

Individual - 30 %

Final Withholding Tax

23
Q

Royalties for books, literary, musical works

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A 
Individual - 10 %
Except nranetb (normal giw 25 %)

Final Withholding Tax

24
Tax informer's cash reward
Individual - 10 % Corporation 10 % Except for gov't peeps Not exceeding 1 million Final Withholding Tax
25
Interest income on foreign currency deposits
Individual 7.5 % Corporation 7.5 % Except all nonresidents (EXEMPT) Final Withholding Tax
26
Int inc on peso savings deposit
Individual - 20 % Corporation - 20 % Final Withholding Tax
27
Int inc on peso time deposits
Individual - 20 % Corporation - 20 % Final Withholding Tax
28
Int inc on deposit substitutes
Individual - 20 % Corporation - 20 % Final Withholding Tax
29
Int inc on govt securities
Individual - 20 % Corporation - 20 % Final Withholding Tax
30
Int inc on preterminated long term deposit
Holding pd: For Individual <5yrs 5% For Corporation 20% Final Withholding Tax
31
The amt withheld by payor is to be filed and paid on or before? What form?
On or before 10th of each month following payment of income Bir form 1602 - interests Bir form 1603 - fbt Bir form 1601 - everything else
32
Professional talent fees (lawyers, cpa, etc)
Less than or equal to 720k annual income - 10 % More than 720k - 15 % Creditable Withholding Tax
33
Pro entertainers,
Less than or equal to 720k annual income - 10 % More than 720k - 15 % Creditable Withholding Tax
34
Pro athletes
Less than or equal to 720k annual income - 10 % More than 720k - 15 % Creditable Withholding Tax
35
Movie, stage, radio, television and musical directors
Less than or equal to 720k annual income - 10 % More than 720k - 15 % Creditable Withholding Tax
36
Income pay to partners of GPP
Less than or equal to 720k annual income - 10 % More than 720k - 15 % Creditable Withholding Tax
37
Mgmt and technical consultants
Individual 10 % Creditable Withholding Tax
38
Bookkeeping agents and agencies
Individual 10 % Creditable Withholding Tax
39
Insurance agents and adjusters
Individual - 10 % Creditable Withholding Tax
40
Fees of directors not employees of company
Individual 15 % Creditable Withholding Tax
41
Real propty rentals
Individual 5 % Corporation 5 % Creditable Withholding Tax
42
Cinematographic film rentals
Individual 5 % Corporation 5 % Creditable Withholding Tax
43
Prime contractors / Sub contractors
Individual 2 % Corporation 2 % Creditable Withholding Tax
44
Income distrbn to beneficiaries of estates and trusts
Individual - 15 % Creditable Withholding Tax
45
Payments by credit card companies
Individual 0.5 % Corporation 0.5 % Creditable Withholding Tax
46
Payments by govt unit to LOCAL SUPPLIERS (of goods)
Individual 1 % Corporation 1 % Creditable Withholding Tax
47
Payments by govt unit to SUPPLIERS OF SERVICES
Individual 2 % Corporation 2 % Creditable Withholding Tax
49
Income payments by top 5000 corporations to their local suppliers
Individual 1 % Corporation 1 % Creditable Withholding Tax
50
Addtl payments to government personnel from importers, shipping, and airline companies for _____ services
Overtime services Individual - 15 % Creditable Withholding Tax
51
Transaction of realtor registered with HLURB for SOCIALIZED sale of H&L or Lot not exceeding SP of ___ for Metro Mnl and ____ in other areas Sale is real property that is an ORDINARY ASSET (not capital)
180k sp in MM 150k sp in other areas 0% Creditable Withholding Tax
52
Realtor not HLURB-ed, and Habitually engaged in real estate business therefore real estate is INVENTORY Sale is real property that is an ORDINARY ASSET (not capital)
SP less or equal to 500k 1.5 % >500 - 2M 3 % >2M 5 %
53
Realtor not HLURB-ed, and not Habitually engaged in real estate business Sale is real property that is an ORDINARY ASSET (not capital)
6 % Creditable Withholding Tax
56
Brokers and agents
Individual - 10 % Corporation - 10 % Creditable Withholding Tax

Tax (4 decks)

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