The corporate income tax rate both for domestic and resident foreign corporations is 30% based on net taxable income. Excluded from the income tax are dividends received from domestic corporations; interest on Philippine currency bank deposit and yield from trust funds. It is important to note that foreign corporations, whether resident or nonresident, is taxable only on income derived from sources within the Philippines.Withholding TaxTypes of taxable income Tax rate (For non-resident) Dividend 15%3 Interest 20% Royalty 30% Technical Fee 30%• All other taxable income earned by domestic and resident foreign corporations is subject to a 20% final withholding tax. However, Regional operating headquarters are taxed at 10% on taxable income. Special economic zone enterprises duly registered with the Philippines Economic Zone Authority are taxed at the rate of 5% on gross income.
• The net capital gains from the sale of shares of stock of a domestic corporation are taxed on a per transaction basis at the rate of 5% on the first PHP 100,000 and 10% in excess of said amount. On the other hand, the sale of shares of stock of a domestic corporation through the Philippine Stock Exchange or through the initial public offering is subject to a percentage tax on the transaction at the rate of 0.5% of the selling price. • The sale of land, building and other real properties classified as a capital asset is subject to 6% final capital gains tax based on the gross selling price. • Any branch profit to be remitted to the Head Office is additionally taxed at the rate of 15%.Value Added Tax/ Sales TaxA 12% value-added tax (VAT) of the gross selling price is imposed on all importation, sale, barter, exchange or lease of goods or properties and sale of services.The term ‘Gross selling price’ means the total amount of money or its equivalent that the purchaser pays or is obligated to pay to the seller in consideration of the sale, barter or exchange of the goods or properties, excluding the value-added tax.
3 Dividends received by non-resident foreign corporations from domestic corporations are subject to a final tax of 30 %.Tax Incentives for SMEs1. Direct Tax Tax incentive for importers and exporters – Tax credits are available for taxes and duties paid on purchases of raw materials of products for export, domestic capital equipment, domestic breeding stock and genetic materials. – A tax credit of 25% of the duties paid on raw materials and capital equipment and/or spare parts.Tax incentives also available to enterprises registered with the Philippine Economic Zone Authority (PEZA). These incentives are shown below:- 4 to 8 years income tax holiday. A 5% tax on the modified gross income is imposed after the end of the income tax holiday.
– Tax and duty exemption on imported capital equipment and raw materials. – National and local tax exemption. – Tax rebate for the purchase of domestic capital good.2. Indirect Tax Under the Investment Priority Plan (IPP), SME owners shall be eligible for the following incentives.- An exemption from wharfage dues and export tax, duty import and fees. – Additional deduction for labor expense (ADLE).
– Additional deduction for necessary and major infrastructure works.
Elements of Environmental Management
Elements of Environmental Management.
Choose one of the Endangered Species in Northern California Last week you each built a presentation that focused on the elements of environmental management in your class project, the strategic adaptive environmental management plan. In the forum this week, please share that presentation with the class, either as a link out to the presentation (e.g., YouTube) or as an attachment. If you do not link out and the file is large, you may want to upload it in kaltura (the icon is in the text editor and it looks like a circle with little dashes coming out of it, somewhat like a firework explosion, and it is near the insert picture and insert table icons). In the forum text, please include the following: Working title of the adaptive management plan Your full name (as you wish to be identified by your colleagues) The stakeholders Vision statement List of goal(s) List of objective(s) per goal Anything else the audience needs to know Three questions you have for your classmates on the topic of the plan or in general on environmental management
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