Upload File

income tax table summary

2
Income Tax Resident Citizen Non- resident Citizen Resident Alien Non- residen t Alien in Busines s Non- reside nt Alien Not in Busine ss Domestic Corporatio ns On direct sale to buyer* of shares of stock of a domestic corporation not listed and traded in a local stock exchange, held as a capital asset Capital gain on shares of stock of domestic corporation FT of 5% (not over P100,000) and 10% (on any amount in excess of P100,000) On sale of real property held as capital asset: On the gross selling price whichever is higher Capital gain on sale of real property in the Philippines FT of 6% From sources within the Philippines, on passive income of: Interest under the expanded currency deposit system FT of 7 ½ % Exempt FT of 7 ½ % Exempt FT of 7 ½ % Interest on any currency bank deposit, yield, or other monetary benefits from deposit substitute, trust fund and similar arrangement FT of 20% Exempt FT of 20% Royalty from books, literary works and musical compositions FT of 10% Royalty other than above; Price exceeding 10,000; Other winnings, except Philippine Charity Sweepstakes and lotto winnings FT of 20% Dividend from a domestic corporation, or from a joint stock company, insurance or mutual fund company, and regional operating headquarters of multinational company, or share in the distributive net income after tax of a partnership (except a general professional partnership), joint stock or joint venture or consortium taxable as a corporation FT of 10% FT of 20% Exempt (intercomp any dividend)

Upload: carmel-louise

Post on 18-Feb-2016

4 views

Category:

Documents


1 download

Report

DESCRIPTION

taxation 1

TRANSCRIPT

Page 1: Income Tax table summary

Income TaxResident Citizen

Non-resident Citizen

Resident Alien

Non-resident Alien in Business

Non-resident

Alien Not in

Business

Domestic Corporations

On direct sale to buyer* of shares of stock of a domestic corporation not listed and traded in a local stock exchange, held as a capital asset

Capital gain on shares of stock of domestic corporation FT of 5% (not over P100,000) and 10% (on any amount in excess of P100,000)

On sale of real property held as capital asset: On the gross selling price whichever is higher

Capital gain on sale of real property in the Philippines FT of 6%

From sources within the Philippines, on passive income of:

Interest under the expanded currency deposit system FT of 7 ½ % Exempt FT of 7 ½ % Exempt FT of 7 ½ %Interest on any currency bank deposit, yield, or other monetary benefits from deposit substitute, trust fund and similar arrangement

FT of 20% Exempt FT of 20%

Royalty from books, literary works and musical compositions FT of 10%Royalty other than above; Price exceeding 10,000; Other winnings, except Philippine Charity Sweepstakes and lotto winnings

FT of 20%

Dividend from a domestic corporation, or from a joint stock company, insurance or mutual fund company, and regional operating headquarters of multinational company, or share in the distributive net income after tax of a partnership (except a general professional partnership), joint stock or joint venture or consortium taxable as a corporation

FT of 10% FT of 20%Exempt

(intercompany dividend)

Interest on long-term deposit or investment in banks (with maturity of 5 years or more) Exempt

Taxable income (others) may arise from:• Employer-employee relationship (compensation income) and/or• Business or practice of profession

Taxable income (others) within the Philippines 5% to 32 %

Gross income from within the Philippines from cinematographic films and similar works FT of 25%Gross income from within the Philippines FT of

25%

Taxable income (NET) from all sources within and outside the Philippines

NORMAL TAX (NT, or RCIT) But beginning with the fourth year from start of operations, whichever is higher of:

30%

NORMAL TAX and 30%MINIMUM CORPORATE INCOME TAX (MCIT), on MCIT gross income 2%

Page 2: Income Tax table summary

Income Tax Summary by Sachin Gupta

Illinois' Corporate Income Tax - Illinois General Assemblycgfa.ilga.gov/Upload/IL_Corp_Income_Tax.pdf · TABLE OF CONTENTS Illinois’ Corporate Income Tax PAGE Executive Summary

2001 Income Booklet - Vermonttax.vermont.gov/sites/tax/files/documents/2010IncBook.pdf · 2010 INCOME TAX RETURN BOOKLET Income Tax Rates The 2010 income tax bracket tax rates are

INCOME TAX SUMMARY REPORT - …finances.marylandtaxes.gov/static_files/revenue/incometaxsummary/... · I. Introduction Summary Report 2015 Page 1. Tax Rates The following graduated

Income Tax Summary

DESCRIPTION OF BUSINESS INCOME TAX COLLECTION REPORTS · 2016. 8. 4. · DESCRIPTION OF BUSINESS INCOME TAX COLLECTION REPORTS MARCH 2009 • Summary: Monthly Collections contains

Dividend Income - Income TAX

Direct Tax Code DTC Summary _ Highlights _ Income Tax

344363 41994 Revision Summary of Income Tax

Earned Income Tax Credit Recipients: Income, Marginal Tax .../media/richmondfedorg/publications/... · Earned Income Tax Credit Recipients: Income, Marginal Tax Rates, Wealth, and

3 Revision Summary of Income Tax

Report: Analysis of 2007 Personal Income Tax Returns · Summary Highlights from tax year 2007 personal income tax returns include: • Total federal adjusted gross income (FAGI) of

Federal Income Tax - tax.carolon.nettax.carolon.net/PersTaxStudyGuide.pdf · SCALE – Federal Income Tax SCALE – Federal Income Tax Southwestern Law School FEDERAL INCOME TAX Syllabus,

Hall Income Tax Distributions and Local Government Finances · 2019-08-04 · Hall Income Tax Distributions and Local Government Finances 3 Executive Summary Tennessee’s continuing

Michigan Income, Income Tax, and Property Tax Credits by ...origin-sl.michigan.gov/documents/treasury/1993SchoolDistrictTax... · income, income tax, and property tax credits.

Preliminary Summary of Federal Income Tax Changes 2017 … · George Runner member Michael Cohen. Preliminary Summary of Federal Income Tax Changes 2017 – First Release . ... plan

Corporate Income Tax Booklet - North Dakota€¦ · Changes to corporate income tax credits - A summary of the 2019 legislative changes affecting corporate income tax credits is below

Individual Income Tax - docs.legis.wisconsin.gov · Wisconsin Adjusted Gross Income ... Summary of Features of the Individual Income Tax ... of income through a low-income allowance,

Summary of Federal Income Tax Change 2019...Summary of Federal Income Tax Changes 2019 - Part I Prepared by The Staff of the Franchise Tax Board, State of California Members of the

Summary Philippine Income Tax Formula

2016 LEGISLATIVE SUMMARY - Virginia Tax...2016 LEGISLATIVE SUMMARY – STATE TAXES ~ 7 ~ GENERAL PROVISIONS Sunset Dates for Income Tax Credits and Sales Tax Exemptions Section 3-5.14

The Earned Income Tax Credit (EITC): An OverviewThe Earned Income Tax Credit (EITC): An Overview Congressional Research Service Summary The Earned Income Tax Credit (EITC) is a refundable

Summary of the Latest FISCAL Federal Income Tax Data, 2015 ... of the... · Federal Income Tax Data, 2015 Update By Scott ... 1 Individual Income Tax Rates and Tax Shares, Internal

The Earned Income Tax Credit (EITC): An Overview · PDF fileThe Earned Income Tax Credit (EITC): An Overview Congressional Research Service Summary The Earned Income Tax Credit (EITC

Income tax-summary

International Comparisons of Corporate Income Tax Rates · PDF fileof the corporate income tax rate applied to income in the to p bracket at ... Corporate Income Tax Rates Summary

tax Calculation Summary Notes (2016) - Selftax.co.uk · Tax calculation summary notes ... • box 1 in the ‘Income Tax losses’ section on page Ai 3 of the ... Double taxation

Requirement for Income Tax Assessment - Truth … for Income Tax Assessment ... The summary record of assessment, through support documents, shall, 1. Provide identification of the

Summary of Income Tax

Summary of Federal Income Tax Changes -- 1995 · SUMMARY OF FEDERAL INCOME -TAX CHANGES,' Prepared, by the Staff of the FRANCHISE TAX BOARD State of California Members of the Board:

Income Tax Super Summary

BE-TAX TAXONOMY ARCHITECTURE GUIDE · BE-TAX-ARCHITECTURE GUIDE 0. Taxonomy summary information be-tax-2016-04-30 Purpose and Scope Represents resident corporate income, income tax

International Comparisons of Corporate Income Tax Rates · 2019-12-11 · CBO SUMMARY AND INTRODUCTION INTERNATIONAL COMPARISONS OF CORPORATE INCOME TAX RATES 2 Summary Table 1. Corporate

Progressive tax reform: Reform of the personal income tax ...€¦ · 2 Summary This report argues that the key to progressive tax reform is to strengthen the personal income tax

Measuring Personal Income Tax Complexity in Canada · PDF file Contents Executive summary / i Introduction / 1 Background on Measuring Tax Complexity / 4 Personal Income Tax Complexity: