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Quarterly Percentage Tax Rates Table

Taxable Base Tax Rate


Non-VAT registered personsGross sales or receipts 3%
under Section 109 (BB)
Domestic carriers and keepers Gross receipts 3%
of garages
International air/shipping Gross receipts on transport of 3%
carriers doing business in the cargo from the Philippines to a
Philippines foreign country
Franchise grantees: 2%
Gas and water utilities Gross receipts 3%
Radio and televisionGross receipts
broadcasting companies whose
annual gross receipts of the
preceding year do not exceed
Php10,000,000 and did not opt
to register as VAT taxpayer
Overseas dispatch, message orAmount paid for the service 10%
conversation originating from
the Philippines
Banks and non-bank financialInterest, commissions and discounts from lending activities as
intermediaries performingwell as income from financial leasing, on the basis of remaining
quasi-banking functions maturities of instruments from which receipts are derived:
• If maturity period is five years 5%
or less
• If maturity period is more than 1%
five years
Dividends and equity shares0%
and net income of subsidiaries
Royalties, rentals of property,7%
real or personal, profits from
exchange and all other items
treated as gross income under
Sec. 32 of the Tax Code, as
amended
Net trading gains within the 7%
taxable year of foreign
currency, debt securities,
derivatives and other similar
financial instruments
Other non-bank financialInterest, commissions,5%
intermediaries discounts and all other items
treated as gross income under
the Tax Code, as amended
Interest, commissions, discounts from lending activities, as well
as income from financial leasing on the basis of remaining
maturities of instruments from which such receipts are derived:
• If maturity period is five years 5%
or less
• If maturity period is more than 1%
five years
Life InsuranceTotal premiums collected 2%
Company/Agent/Corporation
(except purely cooperative
companies or associations)
Agents of foreign insurance companies (except reinsurance premium):
Insurance agents authorizedTotal premiums collected 4%
under the Insurance Code to
procure policies of insurance for
companies not authorized to
transact business in the
Philippines
Owners of property obtainingTotal premiums paid 5%
insurance directly with foreign
insurance companies
Proprietor, lessee or operator of the following:
Cockpits Gross receipts 18%
Cabarets, Night or Day Clubs,Gross receipts 18%
videoke bars, karaoke bars,
karaoke televisions, karaoke
boxes and music lounges
Boxing exhibitions (exceptGross receipts 10%
when the World or Oriental
Championship is at stake in any
division, provided further that at
least one of the contenders for
World Championship is a
citizen of the Philippines and
said exhibitions are promoted
by a citizen/s of the Philippines
or by a corporation/ association
at least 60% of the capital of
which is owned by said
citizen/s)
Professional basketball gamesGross receipts 15%
(in lieu of all other percentage
taxes of whatever nature and
description)
Jai-alai and race track Gross receipts 30%
Winnings on horse races · Winnings or 'dividends' 10%
· Winnings from double 4%
forecast/quinella and
trifecta bets
· Prizes of owners of winning 10%
race horses

Percentage Tax for Transactions Involving Shares of Stocks under Section 127 of the
Tax Code, as amended
BIR Form 2552 - Percentage Tax Return for Transactions Involving Shares of Stocks Listed
and Traded Through The Local Stock Exchange or Through Initial and/or Secondary Public
Offering

Who are required to file?


Every stock broker who effected a sale, barter or exchange of shares of stock listed and
traded through the local stock exchange other than the sale by a dealer in securities,
which tax shall be paid by the seller/transferor
A corporate issuer, engaged in the sale, exchange or other disposition through Initial
Public Offering (IPO) of shares of stock in closely-held corporations
A stock broker who effected a sale, exchange or other disposition through secondary
public offering of shares of stock in closely-held corporations

Note: "No payment" returns filed late will result on penalties that will be imposed by the RDO,
which shall be paid at the concerned AAB.

When to File/Pay
For tax on sale of shares of stocks listed and traded through the local stock exchange
(LSE) – within five (5) banking days from the date of collection
For tax on shares of stocks sold or exchanged through primary offering - within 30 days
from the date of listing in the LSE
For tax on shares of stocks sold or exchanged through secondary public offering - within
five (5) banking days from the date of collection

Note: Aside from BIR Form No. 2552, a stockbroker or corporate issuer is also required to
submit a true and complete return to the Secretary of the Stock Exchange of which he is a
member. The said return shall contain a declaration of all transactions effected through him
during the preceding week and of taxes collected by him and turned over to the BIR.

Percentage Tax for Transactions Involving Shares Rates Table


Coverage Basis Tax Rate
Sale, barter, exchange or other Gross selling price or gross 6/10 of 1%
disposition of shares of stock value in money
listed and traded through the
Local Stock Exchange other
than the sale by a dealer of
securities
Sale, barter or exchange or other disposition Gross selling price or gross value in money
through: Proportion of disposed shares to total
Initial Public Offering (IPO) – the issuing outstanding shares after the listing in the local
corporation shall pay the imposed tax stock exchange:
Secondary Public Offering – the seller shall Up to 25% 4%
pay the imposed tax Over 25% but not over 33 2%
1/3%
Over 33 1/3% 1%

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