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    Passive Income TAX Rate

    Uploaded by

    April Boreres
    This document outlines the tax rates for various types of passive income in the Philippines. Interest from bank deposits is taxed at 20%, while interest received by individuals from foreign currency deposits is 15%. The tax rate on proceeds from pre-terminated long-term deposits or investments is determined by the remaining maturity time period, ranging from 5% to 20%. Royalties are taxed at 20% except for books and music which is 10%. Prizes, winnings, dividends, and some capital gains are also outlined along with their respective tax rates.

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    Passive Income TAX Rate

    Uploaded by

    April Boreres
    17 views2 pages
    This document outlines the tax rates for various types of passive income in the Philippines. Interest from bank deposits is taxed at 20%, while interest received by individuals from foreign currency deposits is 15%. The tax rate on proceeds from pre-terminated long-term deposits or investments is determined by the remaining maturity time period, ranging from 5% to 20%. Royalties are taxed at 20% except for books and music which is 10%. Prizes, winnings, dividends, and some capital gains are also outlined along with their respective tax rates.

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    Passive Income

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    This document outlines the tax rates for various types of passive income in the Philippines. Interest from bank deposits is taxed at 20%, while interest received by individuals from foreign currency deposits is 15%. The tax rate on proceeds from pre-terminated long-term deposits or investments is determined by the remaining maturity time period, ranging from 5% to 20%. Royalties are taxed at 20% except for books and music which is 10%. Prizes, winnings, dividends, and some capital gains are also outlined along with their respective tax rates.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    17 views2 pages

    Passive Income TAX Rate

    Uploaded by

    April Boreres
    This document outlines the tax rates for various types of passive income in the Philippines. Interest from bank deposits is taxed at 20%, while interest received by individuals from foreign currency deposits is 15%. The tax rate on proceeds from pre-terminated long-term deposits or investments is determined by the remaining maturity time period, ranging from 5% to 20%. Royalties are taxed at 20% except for books and music which is 10%. Prizes, winnings, dividends, and some capital gains are also outlined along with their respective tax rates.

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    TAX

    PASSIVE INCOME
    RATE

    1. Interests from any currency bank deposit and yield 20%


    or any other monetary benefit from deposit substitutes
    and from trust funds and similar arrangements

    2. Interest income received by an individual taxpayer 15%


    (except a non-resident individual) from a depositary
    bank under the expanded foreign currency deposit
    system

    3. Proceeds of pre-terminated long-term deposit or


    investment in the form of savings, common or
    individual trust funds, deposit substitutes, investment
    management accounts and other investments
    evidenced by certificates in such form as prescribed
    by the Bangko Sentral ng Pilipinas (BSP) -- the final
    tax shall be based on the remaining maturity of the
    investment:

    a. Four (4) years but less than five (5) years 5%

    b. Three (3) years but less than four (4) years 12%

    c. Less than three (3) years 20%

    4. Royalties (except royalties on books and other 20%


    literary works and musical compositions)

    5. Royalties on books and other literary works and 10%


    musical compositions

    6. Prizes (except prizes amounting to P10,000 or less) 20%


    TAX
    PASSIVE INCOME
    RATE

    7. Winnings (except Philippine Charity Sweepstakes 20%


    and Lotto winnings amounting to P10,000 or less)

    8. Cash and Property Dividends 10%

    9. Capital Gains from Sale of Shares of Stock not 15%


    Traded in the Stock Exchange

    10. Capital Gains from sale of Real Property located 6%


    in the Philippines

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