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What is Understanding OPT Transactions and Tax Rates about?

This document summarizes the scope and requirements for percentage tax (OPT) transactions in the Philippines. It outlines that OPT applies to businesses with gross annual sales below the VAT threshold of 1.9 million PHP, as well as some specific industries like franchises, carriers, and garages. The OPT rates are generally 3% for monthly filers, with some exceptions like 12% OPT for international carriers. It also describes OPT as a business tax on transactions that follows the destination principle and is

Author

Novie Marie Balbin Anit

Language

EN