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SEC. 23. General principles of income taxation in the Philippines
SEC. 27.
Rates
of income tax on domestic corporations
(A) In general
(B) Proprietary educational institutions and hospitals
(C) Government-owned or controlled corporations, agencies or
instrumentalities
(D) Rates of tax on certain passive incomes
(1) Interest from deposits yield or any other monetary
benefit
from
deposit substitutes and from trust funds and similar arrangements,
and royalties
(2) Capital gains from the sale of shares of stock not
traded
in the stock exchange
(3) Tax on income derived under the expanded foreign currency
deposit system
(4) Incorporate dividends
(5) Capital gains from the sale, exchange or disposition of lands
and/or buildings
(E) Minimum corporate income tax on domestic corporations
(1) Imposition of tax
(2) Carry forward of excess minimum tax
(3) Relief from the minimum corporate income tax under certain
conditions
(4) Gross income defined
SEC. 28.
Rates
of income tax on foreign corporations
(A) Tax on resident foreign corporations
(1) In general
(2) Minimum corporate income tax on resident foreign corporations
(3) International carrier
(4) Offshore banking units
(5) Tax on branch profit remittances
(6) Regional or area headquarters and regional operating
headquarters of multinational companies
(7) Tax on certain incomes received by a resident foreign
corporation
(B) Tax on nonresident foreign corporations
(1) In general
(2) Nonresident cinematographic film owner, lessor or distributor
(3) Nonresident owner or lessor of vessels chartered by Philippine
nationals
(4) Nonresident lessor of aircraft, machineries and other
equipment
(5) Tax certain incomes received by a nonresident foreign
corporation
SEC. 29.
Imposition
of improperly accumulated earnings tax
(A) In general
(B) Tax on corporations subject to improperly accumulated earnings
(1) In general
(2) Exceptions
(C) Evidence for purpose to avoid income tax
(1) Prima facie evidence
(2) Evidence determinative of purpose
(D) Improperly accumulated taxable income
(E) Reasonable needs of the business
SEC. 30.
Exemptions
from tax on corporations
SEC. 32.
Gross
income
(A) General definition
(B) Exclusions from gross income
(1) Life Insurance
(2) Amount received by insured as return of premium
(3) Gifts, bequests, and devises
(4) Compensation for injuries or sickness
(5) Income exempt under treaty
(6) Retirement benefits, pensions, gratuities, etc.
(7) Miscellaneous items
SEC. 33.
Special
treatment of fringe benefit
(A) Imposition of tax
(B) Fringe benefit defined
(C) Fringe benefits not taxable
SEC. 43.
General
rule
SEC. 44.
Period
inn which items of gross income included
SEC. 45.
Period
fro which deductions and credits taken
SEC. 46.
Change
of accounting period
SEC. 47.
Final
or adjustment returns for a period of less than twelve (12) months
(A) Returns for short period resulting from change of
accounting period
(B) Income computed on basis of short period
SEC. 48.
Accounting
for long-term contracts
SEC. 49.
Installment
basis
(A) Sales of dealers in personal property
(B) Sales of realty and casual sales of personality
(C) Sales of real property considered as capital asset by
individuals
(D) Change from accrual to installment basis
SEC. 50.
Allocation
of income and deductions
SEC.
51.
Individual returns
(A) Requirements
(B) Where to file
(C) When to file
(D) Husband and wife
(E) Return of parent to include income of children
(F) Persons under disability
(G) Signatures presumed correct
SEC.
52.
Corporation returns
(A) Requirements
(B) Taxable year of corporation
(C) Return of corporation contemplating dissolution or
reorganization
(D) Return on capital gains realized from the sale of shares of
stock
not traded
in the local stock exchange
SEC.
53.
Extension of time to file returns
SEC.
54.
Returns of receivers, trustees in bankruptcy or assignees
SEC.
55.
Returns of general professional partnerships
SEC.
56.
Payment and assessment of income tax for individuals and corporations
(A) Payment of tax
(1) In general
(2) Installment payment
(3) Payment of capital gains tax
(B) Assessment and payment of deficiency tax
SEC.
57.
Withholding of tax at source
(A) Withholding of final tax on certain incomes
(B) Withholding of creditable tax source
SEC.
58.
Returns and payments of taxes withheld
(A) Quarterly returns and payment of taxes withheld
(B) Statement of income payments made and taxes withheld
(C) Annual information returns
(D) Income of recipient
(E) Registration with Register of Deeds
SEC.
59.
Tax on public collectible from owner or other persons
SEC.
60.
Imposition of tax
(A) Application of tax
(B) Exception
(C) Computation and payment
SEC.
61.
Taxable income
SEC.
62.
Exemption allowed to estates and trusts
SEC.
63.
Revocable trusts
SEC.
64.
Income for benefit of grantor
SEC.
65.
Fiduciary returns
SEC.
66.
Fiduciaries indemnified against claims fro taxes paid
SEC.
74.
Declaration of income tax for individuals
SEC.
75.
Declaration of corporate quarterly income tax
SEC.
76.
Final adjustment return
SEC.
77.
Place and time of filing and payment of quarterly corporate income tax
(A) Place of filing
(B) Time of filing the income tax return
(C) Time of payment of the income tax
SEC.
78.
Definitions
SEC.
79.
Income tax collected at source
(A) Requirement of withholding
(B) Tax paid by recipient
(C) Refunds or credits
(D) Personal exemptions
(E) Withholding on basis of average wages
(F) Husband and wife
(G) Nonresident aliens
(H) Year-end adjustment
SEC.
80.
Liability of tax
(A) Employer
(B) Employee
SEC.
81.
Filing of return and payment of taxes withheld
SEC.
82.
Return and payment of taxes withheld
SEC.
83.
Statements and returns
SEC.
84.
Rates of estate tax
SEC.
85.
Gross estate
(A) Decedent's interest
(B) Transfer in contemplation of death
(C) Revocable transfer
(D) Property passing under general power of appointment
(E) Proceeds of life insurance
(F) Prior interests
(G) Transfer fro insufficient consideration
(H) Capital of the surviving spouse
SEC.
86.
Computation of net estate
(A) Deduction allowed to the estate of a citizen or a resident
(1) Expenses, losses, indebtedness, and taxes
(2) Property previously taxed
(3) Transfer for public use
(4) The family home
(5) Standard deduction
(6) Medical expenses
(7) Amount received by heirs under Republic Act No. 4917
(B) Deductions allowed to nonresident estates
(1) Expenses, losses, indebtedness and taxes
(2) Property previously taxed
(3) Transfer for public use
(C) Share in the conjugal property
(D) Miscellaneous provisions
(E) Tax credit for estate taxes paid to a foreign country
(1) In general
(2) Limitations on credit
SEC.
87.
Exemption of certain acquisitions and transmissions
SEC.
88.
Determination of the value of the estate
(A) Usufruct
(B) Properties
SEC.
89.
Notice of death to be filed
SEC.
90.
Estate tax returns
(A) Requirements
(B) Time of filing
(C) Extension of time
(D) Place of filing
SEC.
91.
Payment of tax
(A) Time of payment
(B) Extension of time
(C) Liability for payment
SEC.
92.
Discharge of executor or administrator from personal liability
SEC.
93.
Definition of deficiency
SEC.
94.
Payment before delivery by executor of administrator
SEC.
95.
Duties of certain officers and debtors
SEC.
96.
Restitution of tax upon satisfaction of outstanding obligations
SEC.
97.
Payment of tax antecedent to the transfer of shares, bonds or rights
SEC.
113.
Invoicing and accounting requirements for VAT-registered persons
(A) Invoicing requirements
(B) Accounting requirements
SEC.
114.
Return and payment of value-added tax
(A) In general
(B) Where to file the return and pay the tax
(C) Withholding of creditable value-added tax
SEC.
115.
Power of the Commissioner to suspend the business operations of a
taxpayer
(A) In the case of a VAT-registered person
(B) Failure of any person to register as required under Section
236
SEC.
116.
Tax on persons exempt from value-added tax (VAT)
SEC.
117.
Percentage tax on domestic carriers and keepers of garages
SEC.
118.
Percentage tax on international carriers
SEC.
119.
Tax on franchises
SEC.
120.
Tax on overseas dispatch, message, or conversation originating from the
Philippines
(A) Persons liable
(B) Exemptions
(1) Government
(2) Diplomatic services
(3) International Organizations
(4) News services
SEC.
121.
Tax on banks and non-bank financial intermediaries
SEC.
122.
Tax on finance company
SEC.
123.
Tax on life insurance premiums
SEC.
124.
Tax on agents of foreign insurance companies
SEC.
125.
Amusement taxes
SEC.
126.
Tax on winnings
SEC.
127.
Tax on sale, barter or exchange of shares of stock listed and traded
through
the
local stock exchange or through
initial
public offering
(A) Tax on sale, barter or exchange of shares of stock listed and
traded through
the local stock exchange
(B) Tax on shares of stocks sold or exchanged through initial
public
offering
(C) Return on capital gains realized from sale of shares of stock
(D) Common provisions
SEC.
128.
Returns and payment of percentage taxes
(A) Returns of gross sales, receipts or earnings and payment of
tax
(1) Persons liable to pay percentage tax
(2) Persons retiring from business
(3) Exceptions
(4) Determination of correct sales or receipts
(B) Where to file
SEC.
129.
Goods subject to excise taxes
SEC.
130.
Filing of return and payment of excise tax on domestic products
(A) Persons liable to file a return on removal and payment of tax
(1) Persons liable to file a return
(2) Time for filing of return and payment of the tax
(3) Place for filing of return and payment of tax
(4) Exceptions
(B) Determination of gross selling price of goods subject to ad
valorem
tax
(C) Manufacturer's or producer's sworn statement
(D) Credit for excise tax on goods actually exported
SEC. 131.
Payment of excise taxes on imported articles
(A) Persons liable
(B) Rate and basis of the excise tax on imported articles
SEC. 132.
Mode of computing contents of cask or package
SEC.
144.
Tobacco Products
SEC.
145.
Cigars and cigarettes
(A) Cigars
(B) Cigarettes packed by hand
(C) Cigarettes packed by machine
SEC.
146.
Inspection fee
SEC.
147.
Definition of terms
SEC.
173.
Stamp taxes upon documents, instruments, loan, agreements, instruments
and papers
SEC.
174.
Stamp tax on debentures and certificates of indebtedness
SEC.
175.
Stamp tax on original issue of certificate of stock
SEC.
176.
Stamp tax on sales, agreements to sell, memoranda of sales, deliveries
or
transfer of due-bills, certificates
of
obligation, or shares or certificates of stock
SEC.
177.
Stamp tax on bonds, debentures, certificates of stock or indebtedness
issued in foreign countries
SEC.
178.
Stamp tax on certificates of profits or interest in property or
accumulations
SEC.
179.
Stamp tax on bank checks, drafts, certificates of deposit not bearing
interest, and other instruments
SEC.
180.
Stamp tax on all bonds, loan agreements, promissory notes, bills of
exchange,
drafts, instruments and securities
by the
Government or any or
instrumentalities, deposit
substitute debt
instruments, certificates of deposits
bearing interest and others not
payable
on sight or demand
SEC.
181.
Stamp tax upon acceptance of bills of exchange and other
SEC.
182.
Stamp tax on foreign bills of exchange and letters of credit
SEC.
183.
Stamp tax on life insurance policies
SEC.
184.
Stamp tax on policies of insurance upon property
SEC.
185.
Stamp tax on fidelity bonds and other insurance policies
SEC.
186.
Stamp tax on policies of annuities and pre-need plans
SEC.
187.
Stamp tax on indemnity bond
SEC.
188.
Stamp tax on certificates
SEC.
189.
Stamp tax on warehouse receipts
SEC.
190.
Stamp tax on jai-alai, horse race tickets, lotto or other authorized
numbers games
SEC.
191.
Stamp tax on bills of lading or receipts
SEC.
192.
Stamp tax on proxies
SEC.
193.
Stamp tax on power of attorney
SEC.
194.
Stamp tax on leases and other hiring agreements
SEC.
195.
Stamp tax on mortgages, pledges and deeds of trust
SEC.
196.
Stamp tax on deeds of sale and conveyance of real property
SEC.
197.
Stamp tax on charter parties and similar instruments
SEC.
198.
Stamp tax on assignments and renewals of certain instruments
SEC.
199.
Documents and papers not subject to stamp tax
SEC.
200.
Payment of documentary stamp tax
(A) In general
(B) Time for filing and payment of the tax
(C) Where to file
(D) Exception
SEC.
201.
Effect of failure to stamp taxable document