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Dentists and Taxes

Dental practitioners are subject to various taxes due to their profession. They must pay an annual professional tax, also called a Professional Tax Receipt (PTR), of no more than 300 pesos to the province where they practice. They are also subject to income tax on their yearly profits from practicing dentistry. Additionally, any employer of dental practitioners must require payment of their professional tax before employment and annually thereafter. Dental practitioners must write their official receipt number on any receipts or documents related to their practice to prove they have paid the necessary taxes.

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ZHAREIGHNEILE C. MAMOLO
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926 views9 pages

Dentists and Taxes

Dental practitioners are subject to various taxes due to their profession. They must pay an annual professional tax, also called a Professional Tax Receipt (PTR), of no more than 300 pesos to the province where they practice. They are also subject to income tax on their yearly profits from practicing dentistry. Additionally, any employer of dental practitioners must require payment of their professional tax before employment and annually thereafter. Dental practitioners must write their official receipt number on any receipts or documents related to their practice to prove they have paid the necessary taxes.

Uploaded by

ZHAREIGHNEILE C. MAMOLO
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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DENTAL JURISPRUDENCE

AND ETHICS
Dentist and Taxation
 The act of laying taxes-the enforced proportional contributions from persons
and property levied by the law-making body of the state by virtue of its
sovereignty for the support of the government and public needs.
 As a power, taxation refers to the inherent power of the State to demand and
enforce contributions for public purpose or purposes.

MEANING OF TAXATION AND TAXES


Capital Gains Tax is a tax imposed on the gains presumed to have been realized by
the seller from the sale, exchange, or other disposition of capital assets located in the
Philippines, including pacto de retro sales and other forms of conditional sale.

Documentary Stamp Tax is a tax on documents, instruments, loan agreements and


papers evidencing the acceptance, assignment, sale or transfer of an obligation,
rights, or property incident thereto.

Donor's Tax is a tax on a donation or gift, and is imposed on the gratuitous transfer of
property between two or more persons who are living at the time of the transfer.

DEFINITION OF TERMS USED IN


TAXATION
DEFINITION OF TERMS USED IN
TAXATION
Estate Tax is a tax on the right of the deceased person to transmit his/her estate
to his/her lawful heirs and beneficiaries at the time of death and on certain
transfers which are made by law as equivalent to testamentary disposition.

Income Tax is a tax on all yearly profits arising from property, profession,
trades or offices or as a tax on a person’s income, emoluments, profits and the
like.

Percentage Tax is a business tax imposed on persons or entities who sell or


lease goods, properties or services in the course of trade or business whose gross
annual sales or receipts do not exceed P550,000 and are not VAT-registered.

Value Added Tax is a business tax imposed and collected from the seller in the
course of trade or business on every sale of properties (real or personal) lease of
goods or properties (real or personal) or vendors of services. It is an indirect tax,
thus, it can be passed on to the buyer.
DEFINITION OF TERMS USED IN
TAXATION
Withholding Tax on Compensation is the tax withheld from individuals
receiving purely compensation income.

Expanded Withholding Tax is a kind of withholding tax which is prescribed


only for certain payors and is creditable against the income tax due of the
payee for the taxable quarter year.

Final Withholding Tax is a kind of withholding tax which is prescribed only


for certain payors and is not creditable against the income tax due of the
payee for the taxable year. Income Tax withheld constitutes the full and final
payment of the Income Tax due from the payee on the said income.

Withholding Tax on Government Money Payments is the withholding tax


withheld by government offices and instrumentalities, including government-
owned or -controlled corporations and local government units, before making
any payments to private individuals, corporations, partnerships and/or
associations.
TAXES DUE FROM DENTAL PRACTITIONERS
 Annual Professional Tax/PTR (Professional Tax Receipt)

 (a) The province may levy an annual professional tax on each person engaged
in the exercise or practice of his profession requiring government examination
at such amount and reasonable classification as the sangguniang panlalawigan
may determine but shall in no case exceed Three hundred pesos (P300.00).

 (b) Every person legally authorized to practice his profession shall pay the
professional tax to the province where he practices his profession or where he
maintains his principal office in case he practices his profession in several
places: Provided, however, That such person who has paid the corresponding
professional tax shall be entitled to practice his profession in any part of the
Philippines without being subjected to any other national or local tax, license,
or fee for the practice of such profession.
TAXES DUE FROM DENTAL PRACTITIONERS
 (c) Any individual or corporation employing a person subject to professional
tax shall require payment by that person of the tax on his profession before
employment and annually thereafter.

 (d) The professional tax shall be payable annually, on or before the thirty-first
(31st) day of January. Any person first beginning to practice a profession after
the month of January must, however, pay the full tax before engaging therein.
A line of profession does not become exempt even if conducted with some
other profession for which the tax has been paid. Professionals exclusively
employed in the government shall be exempt from the payment of this tax.

 (e) Any person subject to the professional tax shall write in deeds, receipts,
prescriptions, reports, books of account, plans and designs, surveys and maps,
as the case may be, the number of the official receipt issued to him.
 Income Tax
 A tax on all yearly profits arising from property, profession, trades or offices or as
a tax on a person’s income, emoluments, profits and the like.

TAXES DUE FROM DENTAL


PRACTITIONERS
THANK YOU

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