SPECIAL
CORPORATIONS
|
Taxpayer
|
|
Tax
Base
|
Tax
Rate
|
|
· Proprietary
educational institution and non-profit hospital
|
|
Taxable
income from all sources
|
10%
|
|
|
|
|
|
|
·
Resident international carrier
|
|
Gross
Philippine Billings
|
2 ½ %
|
|
· Regional
Operating headquarters of multinational corporation
|
|
Philippine
Taxable Income
|
10%
|
|
|
|
|
|
|
·
Nonresident owner or lessor of vessel
|
|
Gross
rentals, lease and charter fees from the Philippines.
·
Only from charters or leases of the
vessels to Filipino citizens or corporations approved by the Maritime
Industry Authority.
|
4 ½ %
|
|
· Nonresident cinematographic film owner, lessor
or distributor
|
|
Gross income
from the Philippines
|
25%
|
|
· Nonresident
lessor of aircraft, machinery and other equipment
|
|
Gross
rentals, charges and other fees from Philippine sources
|
7 ½ %
|
|
· Regional
Operating headquarters of multinational corporation
|
|
Philippine
taxable income
|
10 %
|
REMINDER:
- MCIT
is not applicable to Special
Corporations
- If the Gross income of a proprietary educational institution or hospital fromunrelatedtrade, business, or other activity exceeds 50% of the total
gross income derived from all sources, such educational institution or
hospital will be taxed as an ordinary corporation.
- Nonresident owners of vessels are
treated as special corporations only from charters or leases of the vessels to
Filipino citizens or corporations approved by the Maritime Industry Authority.
- All
revenues of non-stock, non-profit educational
institutions used actually, directly
and exclusively for educational purposes shall be exempt from taxes.
Gross
Philippine Billings
|
For
international Air carrier
|
Refers
to the amount of gross revenue derived from carriage of persons, excess
baggage, cargo or mail
originating from the Philippines in a continuous and uninterrupted flight, irrespective
of the place of sale or payment of the ticket or passage document.
|
|
|
|
|
For
International Shipping
|
Means
gross revenue whether for passenger, cargo, or mail originating from the
Philippines up to final destination, regardless of the place of sale or
payment of freight documents.
|
Private
Educational Institutions and Hospitals:
·
If
their gross income from unrelated trade or business exceed 50% of their gross income from all sources the rule on
ordinary corporation (30% rates) shall apply.
For
Non-Resident Corporations:
·
Unless,
otherwise, provided a foreign corporation not engaged in trade or business in
the Philippines shall pay a tax equal to 30%
of the gross income received during the taxable year from all sources within
the Philippines such as interests, rents, salaries, premium (except
reinsurance premiums), annuities, emoluments, or other fixed or determinable
annuities. Periodical or casual gains, profits and income and capital gains,
except income subject to Capital gains tax.
