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This document outlines various percentage taxes (OPT) in the Philippines. It discusses the general 3% OPT rate on gross quarterly sales for non-VAT registered persons and exceptions. It also covers OPT for international carriers, franchise taxes for radio/TV and utilities, taxes on overseas messages, amusement taxes, taxes on winnings, and taxes on the sale of stock.

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2K views2 pages

Opt

This document outlines various percentage taxes (OPT) in the Philippines. It discusses the general 3% OPT rate on gross quarterly sales for non-VAT registered persons and exceptions. It also covers OPT for international carriers, franchise taxes for radio/TV and utilities, taxes on overseas messages, amusement taxes, taxes on winnings, and taxes on the sale of stock.

Uploaded by

Arahbells
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Other Percentage Taxes (OPT)

- any person whose sales or receipts are exempt of this Code from the payment of VAT and
who is not VAT Registered person shall pay OPT. (Sec 116)

- General Rate: 3% of gross quarterly sales

- Exception: In domestic carriers & keepers of garage, 3 % of gross quarterly receipts. They
are not subject to local taxes. E.g. paying parking lots

- Cooperatives are exempt of OPT (TRAIN LAW)

*VAT Threshold is now increased to 3million.

Percentage Tax on International Carriers (Sec 118)


- Gross receipts of International air or shipping carriers doing business in the Philippines
derived from transport of passengers and cargo from Philippines to another country -
exempt from VAT.

- However, subject to OPT their gross receipts derived FROM TRANSPORT OF CARGO.

Tax on Franchise (Sec 119)


- Radio and/or television broadcasting companies whose annual gross receipts of the
preceding year does not exceed 10 million - OPT 3% of Gross Receipt (WITH OPTION to
register as VAT Taxpayer)

- Franchise on electric, gas, & water - 2% Gross Receipt Tax (GRT) (WITHOUT option to
register as VAT taxpayer.

Tax on Overseas Dispatch, Message or Conversation Originating from the Philippines


- 10% on the amount paid for such services

- Within 20 days after the end of each quarter

- Exempted; government, diplomatic services, international organizations, & news services

Amusement Taxes (Sec 125)


- Cockpits - 18% of Gross Receipts

- Cabarets & Night or Day Clubs - 18% of Gross Receipts

- Boxing Exhibitions - 10% of GR; There is exception where it is exempt - wherein World or
Oriental Championships in any division is at stake, provided at least one of contender is a
filipino citizen and it is promoted by a filipino citizen or domestic corporation or association
at least 60% of the capital is owned by filipino citizens;

- Professional Basketball Games - 15 % of GR, provided, in lieu of all other percentage


taxes;

- Jai Alai and Racetracks - 30% of GR

Tax on Winnings (Sec 126)


- Winnings on Horse Races - 10% of Winnings or Dividends after deducting the cost of
ticket;

- Winnings from double forecast/quinella and trifecta bets - 4% of Winnings

Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded through Local
Stock Exchange or thru Initial Public Offering (Sec 126)
A. Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded through Local
Stock Exchange
- At the rate of 6/10 of 1% of the gross selling price or gross value in money

B. Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded through Initial
Public Offering (closely held corporation)
- If up to 25% of the outstanding shares is sold, bartered, or exchanged - 4% of Gross
Selling Price or Gross Value in Money

- If over 25% but not over 33 1/3% - 4% of Gross Selling Price or Gross Value in Money

- If over 33 1/3% - 1% of Gross Selling Price or Gross Value in Money

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