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What is Graduated Income Tax Rates in the Philippines about?

This document outlines the tax rates for various types of income for individual citizens, resident aliens, and non-resident aliens in the Philippines. Some key points: 1. Compensation income is taxed at graduated income tax rates, with the highest rate of 35% applying to income over P8,000,000. 2. Certain passive income is taxed at fixed rates, such as 20% for interest, 10% for royalties, and 20% for prizes and winnings over P10,000. 3. Capital gains from the sale of real property or shares not traded

Author

Mohammad Nowaiser Maruhom

Language

EN