Individual
The income tax rate for individuals ranges from 5% to 32%.
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Corporate
The income tax rate for corporations is 30%.
Value-Added Tax (VAT)
Value added tax is a general consumption tax that requires a 12% additional tax on the sales price of goods and/or services by VAT-registered seller or seller required by law to be under the VAT system. It is an indirect tax, which may be shifted or passed on to the buyer, transferee or lessee of goods, properties or services.
Percentage Tax
Percentage tax is a business tax imposed on persons or entities/transactions:
1. Who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 1,919,500 and who are not VAT-registered; and
2. Engaged in businesses specified in Title V of the National Internal Revenue Code.
Real Property Tax
Revenues of the Local Government Units are earned from their local and external sources. One of these local sources is the Real Property Tax (RPT). RPT is a property tax that is paid yearly. It is imposed on all types of real properties including lands, buildings, improvements, and machinery.
Excise taxes
Excise taxes apply to goods manufactured or produced in the Philippines for domestic sales or consumption or for any other disposition and to things imported.