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a look back on changes to the philippine individual tax landscape

A Look Back on Changes to the Philippine Individual Tax Landscape

by: Karen Jane S. Vergara-Manese and Vichellene L. Gandecila-Viernesto

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With vaccines and boosters being continuously administered, borders are slowly re-opening and airports are starting to be filled with travelers again. In many cases, companies now allow their employees to work from home or from wherever they want. With remote working comes changes to the Philippine individual tax landscape as well.

As vigilant taxpayers, we look back at how the regulators responded to the various circumstances of the past three income tax filing seasons, all of which are unique from one another.

Year 2019 (The customary)

This was the year after the implementation of Republic Act (RA) No. 10963 also known as the Tax Reform for Acceleration and Inclusion (TRAIN) Law. While we were adjusting to the changes brought about by TRAIN, we were also waiting for the Bureau of Internal Revenue (BIR) to issue implementing guidelines and revised BIR Forms. TRAIN provided individuals with a restructured personal income tax table. The changes included the option to avail of the 8% flat income tax rate and the use of the enhanced BIR Firm No. 1701 or the annual income tax return for mixed income earners, estates and trusts.

The BIR was also gradually expanding its digital platforms. They provided online web and mobile applications as additional channels of payment for internal revenue taxes.

However, one of the highlights during TRAIN implementation was the issuance of Revenue Memorandum Circular (RMC) No. 116-2019 which removed the preferential tax rate for alien individuals employed in the Philippines by Regional or Area Headquarters and Regional Operating Headquarters of Multinational Companies, Offshore Banking Units and Petroleum Service Contractors and Subcontractors. The RMC also provided additional requirements such as labeling the Certificate of Compensation Payment / Tax Withheld for Compensation Payment With or Without Tax Withheld (BIR Form No. 2316) of secondees with “seconded employees.” The additional administrative work was suggestive of how the BIR looked to increase its efforts in securing taxpayer information through additional disclosures.

Year 2020 (The turning point)

With a promise of a more prosperous new year, 2020 was an upset. Many struggled with the detrimental impact of COVID-19 on businesses and employment. Republic Act (RA) No. 11469 also known as the Bayanihan to Heal as One Act (Bayanihan One) was enacted to contain local transmission and mobilize assistance to affected sectors.

Bayanihan One did not forget about the taxpayers. It addressed the difficulties in filing returns and paying taxes due to lockdowns by issuing RR No. 11-2020. The tax filing and payment deadline for 2019 annual income tax returns was extended to 14 June 2020 (initially extended to 15 May 2020) without imposition of penalties to taxpayers. Early retirees were also given leniency as to the taxability of their retirement benefits subject to conditions.

The BIR also allowed the use of electronic signatures and reiterated the availability of the eAFS Facility as an option in submitting hard copies of electronically filed AITR and its attachments. The BIR’s technology was helpful to taxpayers, except when systems were down.

RMC No. 83-2020 attempted to address mobility and cross-border issues, providing guidelines on the application of the relevant treaty provisions and allocation of taxing rights between treaty partners in relation to international tax issues affecting stranded individuals in the country and their foreign employers. These issues include double taxation and the unintended creation of a permanent establishment (PE). While the RMC provided some answers to address treaty issues, questions on taxation of non-treaty country residents and applicability of domestic tax rules remained.

Year 2021 (The resurgence)

Unlike the previous year, there was no extension for tax filing for 2020. The government needed funds to sustain its programs and there may have been a conclusion that people have adjusted to the situation. RMC No. 46-2021 however, provided an allowance for filed returns to be amended on or before 15 May 2021 without imposition of penalties. Taxpayers whose amended returns will result in overpayment of taxes can opt to file for refund or carry over the overpaid tax as credit against the tax due for the same tax type in the succeeding period.

As no further guidelines were provided in relation to cross-border individuals, questions on the tax impact of work from home and work from anywhere continue to grow. The BIR issued Revenue Memorandum Order (RMO) No. 14-2021 to streamline the procedures and documents for the availment of treaty benefits. Lesser administrative requirements would have been welcomed as a relief. Moreover, clarification on how the rules apply to foreign nationals who have no constituted Philippine withholding agents would have been helpful.

More recently, the BIR issued RR No. 20-2021 providing guidelines on the taxation of foreign employees of Philippine Offshore Gaming Operations (POGO). The regulations require them to secure a Tax Identification Number (TIN) and pay 25% final withholding tax on gross income subject to certain provisions.

To digitize taxpayer services, the BIR also released the Mobile TIN Verifier App. The app is a service channel for taxpayers to send online TIN validation and inquiry and receive real-time response from BIR Offices. However, limitations on the extent of support provided and insufficient live agents make the use of the app less effective.

Year-end payroll activities are the final challenge to tackle. Changes to the year-end payroll reporting requirements include RMC No. 111-2021 that provides for the latest Offline Electronic Bureau of Internal Revenue Forms (eBIRForms) Package Version 7.9.2, and RMC No. 117-2021 which clarifies the manner of submission of BIR Form Nos. 2307 (Certificate of Creditable Tax Withheld at Source) and 2316 (Certificate of Compensation Payment/Tax Withheld for Compensation Payment With or Without Tax Withheld) under RR No. 16-2021. A tax advisory was issued as well to inform taxpayers that the BIR shall accept submission of the BIR Form No. 2316 without the employee’s signature provided that the same is signed by the authorized representative of the employer. Given the spike in Omicron cases, the BIR has directed its offices and agent banks to accept out of district submissions in areas under Alert Level 3.

Taxpayers are filled with questions for the future - will the BIR allow the continued use of electronic signatures? Will there be more digital payment facilities available? Will there be improvements to increase the reliability of the current tax filing system? In your experience, how many of these questions and scenarios match yours from a payroll and tax perspective?

We can expect the BIR to stick with the tax filing and payment deadlines as movement restrictions continue to ease up. The BIR does try to make it easier for taxpayers to file their income tax returns as it results in more collection. It is also active in attempting to address gray areas through consultations with the private and public sectors and issuance of RMCs. However, we find that at times, the circulars themselves cause further confusion requiring taxpayers to come up with their own interpretations.

Companies nowadays are undergoing a lot of transformations – reviewing compensation benefits and policies, addressing the workforce needs and considering remote or hybrid work arrangements. Other factors such as environment, social and governance (ESG) issues, health and safety, are also emerging as agents of change. The policies and programs therefore need to be agile with the eccentricities of these factors particularly in the changes in the income tax rules.

Theodore Roosevelt once said, “The more you know about the past, the better prepared you are for the future.” 2022 is here and it would do us good to prepare based on the facts of what has already transpired the past couple of years. We can’t ignore the massive changes in the income tax rules and they are becoming certainly more complex. It is important for us to look back and understand where we succeeded or went wrong in terms of compliance and of course, how to resolve these problems in the future. There are still a lot of things that the BIR should look at to adapt fully to the new reality of income tax reporting, domestic and international tax regulations, and technological advancements, gradually but hopefully, soon, these can be implemented.

Karen Jane S. Vergara-Manese is a Partner, the Global Mobility Services Country Lead and the Immigration Practice Head and Vichellene L. Gandecila-Viernesto a Director from the Tax Group of KPMG R.G. Manabat & Co. (RGM&Co.), the Philippine member firm of KPMG International. The firm has been recognized in 2021 as a Tier 1 in Transfer Pricing Practice and in General Corporate Tax Practice by the International Tax Review.

This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent KPMG International or KPMG RGM&Co.

For questions and inquiries, feel free to send a message through social media or [email protected] .

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50+ Focused Taxation Research Topics For Your Dissertation

Published by Ellie Cross at December 29th, 2022 , Revised On May 2, 2024

A thorough understanding of taxation involves drawing from multiple sources to understand its goals, strategies, techniques, standards, applications, and many types. Tax dissertations require extensive research across a variety of areas and sources to reach a conclusive result. It is important to understand and present tax dissertation themes well since they deal with technical matters.

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The Most Pertinent Taxation Topics & Ideas

The effects of tax evasion and avoidance on and the supporting data
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A thorough comparison of current taxes and the Islamic zakat system is presented. Which one is more beneficial and effective for reducing poverty?
According to the most recent academic study on tax law, what essential improvements are needed to implement tax laws in the UK?
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Why establishing a taxation system is essential for a country’s growth
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What is the most significant investment made using tax revenue by the government?
Is it feasible for the government to create diverse social welfare policies without having the people pay the appropriate taxes?
How tax avoidance by people leads to an imbalance in the government budget
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Workers of the tax department’s role in facilitating tax evasion through corruption
Investigate the changes that should be made to the current taxation system. A case study based on the most recent UK tax studies
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An analysis of the effects of intellectual capital on the expansion and development of large businesses and multinationals. An Apple case study
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A critical analysis of how the administration of higher institutions is impacted by small business budgeting
Recognising the importance of foreign currency in a nation’s economy. How can foreign exchange and remittances help a nation’s finances?
An exploration of the best ways tax professionals may persuade customers to pay their taxes on time
An investigation of the potential impact of tax and accounting education on the achievement of the nation’s leaders
How the state might expand its revenue base by focusing on new taxing areas. Gaining knowledge of the digital content creation and freelance industries
An evaluation of the negative impacts of income tax reduction. Will it prompt more people to begin paying taxes?
A critical examination of the state’s use of tax revenue for human rights spending. A UK case study
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What are the existing problems that prevent the government systems from using the tax money they receive effectively and completely?
What are people’s opinions of those who frequently avoid paying taxes?
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A Guide to Taxation in the Philippines

The taxation policy in the Philippines is chiefly governed by the following Republic Acts:

The Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act)
Tax Reform for Acceleration and Inclusion (TRAIN) Law
Article VI, Section 28 of the Constitution;
The National Internal Revenue Code; and
Local Government Code of 1991.

Tax structure

The country imposes a territorial tax system, meaning only Philippine-sourced income is subject to Philippine taxes.

Corporate income tax

From July 2020 to 2022, foreign companies will be eligible for a reduced corporate income tax (CIT) rate of 25 percent, down from the regular rate of 30 percent. The reduction in the headline CIT rate was passed by the CREATE Act, which also stipulates the further reduction of the CIT rate by one percent per year to finally reach 20 percent in 2027 for foreign companies.

Domestic micro, small, and medium-sized companies will directly benefit from a preferential rate of 20 percent (businesses with taxable income of up to PHP 5 million (US$89,270) and not exceeding PHP 100 million (US$1.7 million).

The CIT of 25 percent is levied on net income on all sources. Non-resident companies are taxed only on their Philippine-sourced income. Domestic companies are taxed on their worldwide income.

Minimum corporate income tax

A minimum corporate income tax (MCIT) of two percent is imposed on the gross income of both domestic and resident foreign corporations, on an annual basis. It is imposed from the beginning of the fourth taxable year immediately following the commencement of the business operations of the corporation. The MCIT is imposed when the standard 20 percent CIT is lower than the two percent MCIT on the company’s gross income. Any excess of the MCIT over the normal tax may be carried forward and credited against the normal tax for the three immediately succeeding taxable years.

Withholding tax

Dividends distributed by a resident company are subject to withholding tax at 25 percent; those distributed to non-residents are taxed at 15 percent, provided the country of the non-resident recipient allows a tax credit of 15 percent. The withholding tax may be reduced under an applicable tax treaty.

Interest paid to a non-resident is subject to a 20 percent withholding tax unless otherwise stipulated under a tax treaty.

Royalty payments made to a domestic or resident company are subject to a final withholding tax of 20 percent. A 25 percent withholding tax is levied on royalty payments to non-residents.

Fringe benefits tax

Fringe benefits granted to supervisory and managerial employees are subject to a 35 percent tax on the grossed-up monetary value of the fringe benefit. Under new income tax regulations, fringe benefits mean any good, service, or other benefit granted in cash or in kind, other than the basic compensation, by an employer to an individual employee.

The benefits include, but are not limited to: housing, expense accounts, vehicles, household personnel, interest on loans at below market rate, club membership fees, expenses for foreign travel, holiday and vacation expenses, education assistance, and life or health insurance and other non-life insurance premiums.

Fringe benefits tax, however, is not imposed when the fringe benefits are deemed necessary to the nature of your business.

Branch profit remittance tax

Branches of foreign companies in the Philippines, except those registered with the Philippine Economic Zone Authority, are subject to income tax at the rate of 30 percent of their income derived within the Philippines. A 15 percent branch profit remittance tax (BPRT) is levied on the after-tax profits remitted by a branch to its head office. After-tax profits remitted by a branch do not include income items that are not effectively

connected with the conduct of its trade or business in the Philippines. Such income items include interests, dividends, rents, royalties, including remuneration for technical services, salaries, wages, premiums, annuities, emoluments or other fixed or determinable annual, periodic, or casual gains, profits, income, and capital gains received during each taxable year from all sources within the Philippines.

Improperly accumulated earnings tax

Income accumulated by closely held corporations with the purpose of avoiding tax attracts an improperly accumulated earnings tax (IAET) of 10 percent. The closely held corporation may refer to companies wherein at least 50 percent of the capital stock or voting power is owned directly or indirectly by not more than 20 individuals.

The criteria to determine the liability for the IAET is the purpose of the accumulation of the income and not the consequences of the accumulation. That is, if a company allows its earnings or profits to accumulate within its reasonable needs, then it would not be subject to the tax unless proven to the contrary.

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Personal income tax

The Philippines implements a progressive personal income tax rate of up to 35 percent. The TRAIN Act, which was passed at the end of 2017, stipulated provisions to reduce personal income tax on all taxpayers except those in the highest income bracket. Taxpayers in all income brackets below PHP 8 million (US$142,900) will therefore see between a two and five percent reduction in personal income tax rate from January 1, 2023, onwards.

Value-added tax

The 12 percent value-added tax (VAT) rate is imposed on most goods and services that have achieved actual gross sales of over PHP 3 million (US$53,562).

VAT exemption for exporters of local purchases

The Philippines issued a value-added tax (VAT) exemption for registered exporters on their local purchases of goods and services through Revenue Regulations (RR) No. 21-2021.

The VAT privilege covers the sale of equipment, supplies, packaging materials, and goods, among others, for a maximum period of up to 17 years.

What services are subject to VAT exemption?

The services performed by a VAT-registered person that is subject to VAT exemption are as follows:

Sale of raw materials, packaging materials, supplies, inventories, and goods, to a registered enterprise and used in its registered activity;
Sale of services, including the provision of basic infrastructure, maintenance, utilities, and repair of equipment, to a registered enterprise;
Services rendered to persons engaged in air transport operations or international shipping, including leases of property, provided that these services are exclusively used for air transport operations or international shipping;
The transport of passengers and cargo by domestic air or sea vessels from the Philippines to a foreign country;
Sales to persons or entities who are exempted from direct and indirect taxes under special international agreements to which the Philippines is a signatory;
The manufacturing, processing, or repacking of goods for persons or entity that is doing business outside of the Philippines, and the said goods are subsequently exported and paid for by foreign currency; and
The sale of power is generated through renewable resources such as geothermal and steam, hydropower, biomass, solar, and wind, among others.

New registered export enterprises under CREATE can enjoy the VAT exemption for a maximum of 17 years starting from the date of registration. Meanwhile existing registered export companies located inside freeport zones and ecozones, the VAT exemption shall be until the expiration of the transitory period.

A registered export enterprise is a corporation, partnership, or other entity established under Philippine laws and registered with an Investment Promotion Agency (IPA). They must also engage in manufacturing, assembling, or processing activities that result in the direct exportation of manufactured or processed products.

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The Philippines: Critical collaboration and adaptability to influence tax reform

Dec 14, 2020

Founded in 1996 by progressive scholars and activists to provide an independent voice on fiscal reform, industrial policy and taxation, Action for Economic Reforms (AER) in the Philippines works through many avenues to influence policy: “research and analysis, lobby and dialogue, networking and coalition building, legal action, media work, publication and public education”. Between 2012 and 2019, AER engaged in various rounds of reform to so-called “sin taxes” – excise taxes paid on alcohol and tobacco products – and to the oil excise reforms proposed by the Duterte government. The group used a multi-pronged strategy that included working directly with government, lobbying members of Congress, engaging the media and mobilizing civil society coalitions to sway public opinion and put pressure on policymakers. As a result of the campaign, substantial increases in sin taxes were introduced and used to significantly expand health coverage. Oil excise tax reforms contributed to increased revenue as well, but their distributional impact was more controversial, partly because the reform was approved without adequate preparation for the cash transfers that were supposed to compensate low-income families.

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The Tax Reform

The Philippines’ tax system is characterized by a narrow base, high rates, and weak enforcement. Nonetheless, the country collected the equivalent of 14.0% of their GDP in taxes in 2018, above the regional average of 11.9%. Slightly over 2,000 large corporate taxpayers provide half of all government revenue, and around 16% of the population is registered as individual taxpayers. The country collects various excise taxes which account for around a tenth of tax revenues.

Prior to the 2012 reform, excise taxes on tobacco and alcohol products were comparatively low and rates of smoking were high—as many as a third of Filipino adults. An earlier effort to increase “sin taxes” on sales of these goods in 1997 was blocked by the tobacco and alcohol lobby, but they were finally increased in 2012 by the Aquino government: the tax levied on tobacco products increased by a factor of ten and taxes on beer more than doubled. These reforms were styled as a public health measure, discouraging unhealthy behavior while raising funds for the country’s universal health care program. A 2019 reform increased these taxes even further, and taxed e-cigarettes for the first time. Consequently, rates of smoking have fallen appreciably, while health insurance coverage has climbed dramatically; earmarked revenues have increased the country’s health budget by 2.5 times since 2012. Moreover, the sin taxes proved popular: a 2014 poll indicated two-thirds of Filipinos believe that cigarette prices should be further increased.

Additionally, a comprehensive tax reform package—the Tax Reform for Acceleration and Inclusion (TRAIN)—was enacted in 2017 by the Duterte government. TRAIN was made up of five packages that together would make the tax system simpler, fairer, and more efficient—while also raising funds to eradicate extreme poverty by 2040. One of the packages included gradual increases in the excise tax on oil over a three-year period, assessed across various product categories. The reform aimed to correct the declining real value of oil taxes, which had not previously been indexed to inflation (and also further reduced in 2006); by 2017, petroleum excise tax collections had eroded to just a quarter of what they had been in 1997. To offset the negative income impact of these taxes on the poor, the government coupled this package with lower personal income tax rates for all but the top one percent of earners, unconditional cash transfers to the poorest 10 million households, and fuel vouchers for 179,000 public utility vehicle drivers. But since the reform was rushed to be passed within a narrow window of low oil prices, these mitigation measures were not implemented on time, generating public criticism.

The Campaign

AER used a multi-pronged strategy to influence policy during these various campaigns. The group worked directly with government, lobbied members of Congress, mobilized civil society coalitions and engaged the media, helping to overcome the political influence of powerful private sector lobbies.

AER played a crucial role in the 2012 sin tax reforms. To counter the tobacco and alcohol lobbies that had derailed a similar reform attempt in 1997, AER helped organize a broad coalition including not only tax fairness organizations but also health advocates and youth groups. Indeed, the presence of an orchestrated civil society movement may represent the critical difference between the failed 1997 tax reforms and the successful 2012 ones. The coalition decided to communicate the need for sin tax reform primarily as a health measure (rather than as a revenue raiser), connecting the effort to the goal of universal coverage. The alliance effectively used “insider-outsider” tactics to generate public pressure and manage the politics, working with key finance officials, legislators, and party leaders—even setting up a “war room” in the finance department to coordinate efforts—while also applying public pressure at key turning points. Further, the coalition identified sponsors in Congress and helped reach key strategic decisions, such as earmarking revenues for spending (as a bargaining tool to get more votes) and accepting the difficult compromise to reduce the proposed levy on alcohol in order to secure passage of the reform. And it was particularly effective at exposing politicians and columnists who showed a bias towards the tobacco and alcohol industry, especially those who used talking points lifted directly from industry documents. Even so, the 2012 reform just barely passed the Senate vote (10 to 9).

For the TRAIN reform effort, several years later, AER faced several additional obstacles. They did not have strong political connections with the incoming Duterte administration—and initially could not find sponsors in Congress for a new round of increases on tobacco and alcohol taxes. But because they had built trust with career civil servants in the finance department, the coalition was invited in as a partner. AER assisted the government with bringing in stakeholders during the consultation process and helped liaise with Congress. The coalition discovered that sin taxes were not included in the original reform plans—and further learned industry was planning to lobby for a renegotiation of the past reforms. Building on their past experiences, AER responded by going on the offensive, proposing that sin tax rates be increased even further. Helped by the President’s popularity and political support in both houses of Congress, the tax increase was approved unanimously in 2019. The difficult compromise on alcohol taxes in 2012 allowed the coalition to build credibility and momentum to increase alcohol taxes a few years later.

AER’s role in the oil excise reforms followed a similar pattern with relation to the “backstopping” role that it played with the finance department, providing technical and strategic support to the reform team there, and publishing editorials and opinions at key points in the reform. But organizing other civil society actors around TRAIN and the oil excise plan proved to be much harder than in the 2012 sin tax reform. There was a very small window of time to plan, organize, and communicate the reform. Critically, this period was too short to plan, secure buy-in and build the capacity of executive departments who needed to implement the unconditional cash transfers and the fuel card program, that were meant to protect the poor from being unduly affected by the reform. Even if taxes had already been increased by the start of 2018, these programs could not be delivered until the second half of the year. The delayed implementation of these measures led to public criticism. Finally, oil prices increased shortly after the reform was passed, causing the public to attribute the price increases of basic commodities to the tax reforms.

Critics branded TRAIN a “burden” to the poor, and lawmakers responded to the mounting public pressure by calling for the suspension of oil tax increases. Even though the AER and the finance department released analyses suggesting that such proposals were misguided, by October 2018—with inflation breaching 6%—members of various parties increased the pressure on government to backtrack. When oil prices breached the ceiling that triggered an “off-switch” set by law, the tax increase scheduled for the following year was suspended. Although it would have been strategically preferable to time the safety net measures to begin alongside the oil tax increase, advocates believe that with further delay the measure would not have passed.

AER’s campaign to increase sin taxes was a significant success. Their advocacy helped bring about a substantial increase in revenue that was used to significantly expand health coverage. And it did so by playing a long game and adapting strategies and tactics along the way. Their support to the government’s planned increase in oil excise taxes—a major revenue source that was meant to also fund cash transfers to low-income families—was more controversial. This was partly because the tax hikes were rushed through without adequate preparation for the social mitigation measures.

Overall, however, AER’s experience demonstrates how an effective “tax reform entrepreneur” deploys numerous skills. During the reform processes, AER played several different roles: liaising between government and advocates, backstopping reform teams, orchestrating voices, and shaping public opinion. Operationally, this meant everything from undertaking technical analyses and policy research, writing press statements, appearing in media briefings, creating one-page briefing notes, drafting coalition statements, writing opinion editorials and being present in coalition meetings, to managing group conversations among activists with passionate and often conflicting opinions. Through each of these efforts, AER helped shape public opinion and pressure politicians to deliver votes.

This case study illustrates several lessons essential to building an effective civil society movement for tax reform.

First, organizations should work to build trust with government officials—a process that takes time, commitment, and preparation, and that can pay off despite political shifts. Building trust, however, does not mean providing unconditional support, but rather “critical collaboration” and constructive engagement.

Besides direct engagement with the executive, civil society organizations (CSOs) need to engage with and develop good relations with many different stakeholders, from legislators to the media, to various possible allies within civil society. This allows them to play multiple roles in support of the reforms, both inside and outside government.

Regressive excise taxes may be justified for various reasons, such as promoting health and protecting the environment. AER’s work shows that building a successful case for increasing these taxes can rely on “earmarking” them—at least notionally or rhetorically—for progressive spending items like health coverage or cash transfers, which largely benefit the poor.

Finally, successful reform entrepreneurship relies on a mix of skills, for technical analysis, political negotiation and effective communication. These skills, however, need to be accompanied by flexibility and adaptation. CSOs should build consensus on core reform principles but have the courage to compromise while staying true to agreed principles, and change tactics when the conditions demand it, accepting that there are limits to what may be possible at any given moment in time.

This summary is derived from Kenneth Isaiah Ibasco Abante’s case study paper: “Critical Collaboration: The Power and Limits of Civil Society Engagement in Tax Reforms in the Philippines,” July 2020.

philippines tax case study summary december 2020.pdf

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Taxes in the Philippines [Taxation Guide for 2024]

Last Updated – Oct 23, 2023 @ 1:35 pm

Every year, millions of people in the Philippines face the same annual task – staying on top of their taxes. After all, only two things are certain in life: death and taxes.

Whether you’re an employee or running your own business , missing tax deadlines can lead to detrimental consequences.

As we step into a new year (in a couple of months!), we’ll let you in on some tax planning strategies to help you avoid any potential issues with the Bureau of Internal Revenue.

The goal of this guide is to help you understand the basics of taxation, provide practical advice to ensure compliance, and help you minimize any tax-related headaches.

But before you start learning about the tax landscape in the country, you must first be aware of the key republic acts governing taxation policies in the Philippines. This includes:

The Corporate Recovery and Tax Incentives for Enterprises Act ( CREATE Act )
Tax Reform for Acceleration and Inclusion ( TRAIN ) Law
Article VI, Section 28 of the Constitution
The National Internal Revenue Code of 1997 ( Republic Act No. 8424 ), also known as the Tax Reform Act of 1997, as amended
Republic Act No. 1937 , the Tariff and Customs Code of the Philippines (as amended)
Republic Act 7160 , also known as the Local Government Code of 1991, as amended

These serve as the foundation of our tax system, encompassing both national and local taxes.

National taxes are those we pay to the government through the Bureau of Internal Revenue, while local government taxation is based on the powers granted to local government units under the Local Government Code of 1991.

Tax Structure in the Philippines

The Philippines follows a territorial tax system. This means that only income generated within the Philippines or from Philippine sources is subject to taxes.

Income earned from foreign sources is generally not taxed in the Philippines, with some exceptions for certain types of income.

The Role of BIR

The Bureau of Internal Revenue or BIR is the primary agency responsible for the assessment, collection, and enforcement of internal revenue taxes and other related charges within the Philippines.

Here’s a more detailed breakdown of the BIR’s key functions:

Tax Assessment

The BIR has the power to assess taxes on individuals and businesses based on their income, transactions, financial activities, or other taxable transactions.

The assessment process involves reviewing the taxpayer’s records and financial statements to determine the amount of tax owed.

Tax collection

This involves sending notices to taxpayers informing them of their tax obligations.

The BIR also has the authority to impose penalties for late or non-payment of taxes, as well as to seize assets or initiate legal action against delinquent taxpayers.

Assistance and education

To help ensure everyone is in the loop about taxes, BIR offers information on tax filing procedures and tax regulations. The agency also provides guidance on how to avoid common tax-related issues.

Auditing and investigation

If there are suspicions of tax evasion, fraud, or non-compliance, the BIR may conduct an audit or investigation into the taxpayer’s financial activities .

This includes reviewing their accounts and gathering evidence to determine if any violations have been committed.

If violations are found, the BIR may impose penalties, fines, or even criminal charges.

Tax clearance and certificate issuance

The BIR also provides tax clearance and certificate issuance services to individuals and businesses. A tax clearance certificate is a document that certifies that a taxpayer has no outstanding tax liabilities or has paid all taxes due and is up to date with their tax obligations.

This certificate is required for various transactions such as registering a new business , renewing business permits, applying for travel visas , and more.

Policy and regulation

The agency has a key role in developing tax policies and regulations. They also work with other government agencies to make sure that tax laws and regulations are clear, consistent, and fair.

Enforcement and legal action

When necessary, the BIR has the power to enforce tax laws and regulations by taking legal action against individuals and businesses who do not comply with tax requirements.

This can include imposing fines, penalties, and even imprisonment in extreme cases of tax evasion or fraud.

What is Taxable Income?

Taxable income refers to the portion of your total income that is subject to taxation by the government. In simpler terms, it’s the money you earn on which you have to pay taxes.

This income can come from various sources, such as your job , business , investments , or any other financial activities.

Types of Taxes in the Philippines

To understand taxation, it’s essential to know the different types of taxes imposed by the government.

Direct taxes

This type of tax is directly levied on an individual or business, and the burden of paying it falls on the same person or entity. Here are the different types of direct taxes.

Income tax is imposed on the yearly profits or earnings that individuals and businesses generate from various sources, such as property, professions, trades, or offices.

Individual or personal income tax rates

Individual income tax follows a progressive tax rate structure, where the tax rate increases as income levels rise.

Corporate income tax

Corporate income tax is a tax imposed on the net income or profits of corporations, partnerships, and other entities engaged in trade or business within the Philippines. It is based on a fixed rate.

Philippine corporations are taxed on their total global income. However, non-resident corporations are only taxed on income they generate in the Philippines.

Meanwhile, a foreign corporation with a branch in the Philippines is subject to taxation on the income generated in the country. Branch taxable income is calculated in the same way as subsidiary taxable income.

Effective from July 1, 2020, Philippine corporations are taxed at a rate of 25% (from 30%). This doesn’t include corporations who have a net taxable revenue of less than PHP5 million and total assets of less than PHP100 million, which is taxed at a rate of 20%.

Withholding tax

The following are the different withholding taxes you should know.

When a resident company distributes dividends, they are liable to the following taxes.

For individuals:

For corporations:

For interest payments made to non-residents, a 20% withholding tax applies, unless a tax treaty specifies otherwise.

In the case of royalty payments, domestic or resident companies are subject to a final withholding tax of 20%. However, a 25% withholding tax rate is applied to royalty payments made to non-residents.

Fringe Benefit Tax

The FBT rate is set at 35% of the grossed-up monetary value of the fringe benefit.

This tax is imposed on non-wage benefits that employees receive as part of their basic compensation package. This includes goods, services, or other benefits granted in cash or in kind.

The benefits include, but are not limited to the following:

Expense accounts
Household personnel
Interest on loans at below market rate
Club membership fees
Expenses for foreign travel
Holiday and vacation expenses
Education assistance
Life or health insurance and other non-life insurance premiums

Keep in mind that this tax is not imposed when the fringe benefits are considered necessary to the nature of your business.

Capital Gains Tax

This is levied on the profit (capital gains) earned from the sale or disposal of certain types of assets, such as real estate , stocks , bonds , mutual funds , and other investments.

It is typically imposed when an individual or entity realizes a gain by selling an asset for a higher price than the original purchase price.

This is levied on the right of a deceased person to transfer their estate to their lawful heirs and beneficiaries upon their death.

It is imposed on the total value of the assets and properties left behind by the deceased individual, and it is calculated based on a graduated schedule of tax rates.

This tax is also applicable to certain transfers that are considered equivalent to testamentary dispositions, such as certain gifts made shortly before the individual’s death.

Related: How to Write a Last Will and Testament

Donor’s Tax

Donor’s tax in the Philippines is a tax imposed on the act of giving property as a gift while the giver (also called donor) is still alive.

This tax applies when someone transfers property to another person or entity out of generosity, without expecting much in return, and without being legally obligated to do so.

Whether the donor is a resident or non-resident of the Philippines, this tax is imposed on the privilege of making such a gift.

Keep in mind that this is different from estate tax, which is levied on the transfer of property upon a person’s death.

Indirect taxes

The opposite of direct taxes, this tax is imposed on goods and services at the point of consumption.

Value Added Tax

Also called VAT, this tax is imposed on the sale of goods and services. It is levied on the value added to a product or service at each stage in its production or distribution and ultimately passed on to the final consumer.

Excise tax is a type of indirect tax that is levied on specific goods, such as alcohol, tobacco products, petroleum products, and automobiles.

This tax is imposed on the manufacturer or importer of these goods, but the cost is ultimately passed on to the end consumer.

Check out this page for the updated table.

Documentary Stamp Tax

This is for a variety of legal and commercial documents. These include deeds, contracts, and other instruments that relate to the transfer or conveyance of property rights or financial obligations.

Local Taxes

Here are some additional local taxes you should account for.

Real Property Tax

This tax is for immovable properties such as land, buildings, machinery, and other improvements that are permanently attached to the land.

This tax is imposed on the privilege of owning or holding real estate within the jurisdiction of a local government unit (LGU), such as a city or municipality.

It is a significant source of revenue for LGUs and is used to fund local public services and infrastructure development.

Business Tax

This is enforced by LGUs on businesses operating within their jurisdiction. It is based on the gross sales or gross receipts of a business for the previous fiscal year.

The rate varies depending on the location of the business but should not exceed 3% of the gross sales or gross receipts.

Tax on Transfer of Real Property Ownership

This tax is imposed when real property is sold, donated, bartered, or transferred to another owner.

Tax on Business of Printing and Publication

This is for businesses engaged in printing and publishing materials like books, posters, pamphlets, and the like that are subject to this tax.

Franchise Tax

Businesses with franchises are taxed at a rate not exceeding 50% of 1% of their gross annual receipts from the previous year within their jurisdiction.

Tax on Sand, Gravel, and Quarry Resources

This tax applies to resources like stones, sand, gravel, and earth extracted from public lands, waters, or riverbeds within the local government’s jurisdiction.

Professional Tax

Professionals who are required to pass government exams are obligated to pay an annual professional tax.

Amusement Tax

The proprietors of entertainment venues, including theaters and concert halls, are required to collect this tax from patrons.

Annual Fixed Tax for Delivery Vehicles

Manufacturers, wholesalers, dealers, or retailers using delivery vehicles for products like liquors, soft drinks, and tobacco pay this annual fixed tax.

Tax on Business

Businesses must pay this tax to secure a business license or permit to start operations. This is what businesses pay to get a Business Mayor’s Permit. Rates may vary among cities and municipalities.

Fees for Sealing and Licensing of Weights and Measures

Charges for certifying and licensing weighing and measuring equipment are determined by the local government.

Fishery Rentals, Fees, and Charges

Fees are imposed on individuals granted fishery privileges in municipal or city waters.

Community Tax

Levied on individuals 18 years and older engaged in work, business, or owning property with a certain assessed value.

Corporations doing business in the Philippines are also subject to this tax.

Barangay Taxes on Stores or Retailers

This is for businesses with gross sales of receipts of the preceding calendar year of P50,000.00 or less for cities, and P30,000.00 or less for municipalities.

The rate should not exceed 1% on such gross sales or receipts.

Service Fees or Charges

Barangays can collect fees for services related to the use of barangay-owned properties or facilities.

Barangay Clearance

A reasonable fee is collected for issuing a barangay clearance. This is usually required for various government transactions.

Tax Incentives and Exemptions in the Philippines

The government offers many tax incentives and exemptions to help promote economic growth, attract investments, and support various sectors.

1. Special Economic Zones and their tax benefits

Special Economic Zones (SEZs) are designated areas in the Philippines that enjoy unique tax privileges and incentives to encourage investments and economic activities.

These zones are typically established in strategic locations to spur development and job creation.

Some of the tax benefits associated with SEZs include income tax holidays, as well as duty-free importation to decrease production costs.

2. Tax holidays and other incentives for businesses

Export-focused businesses can enjoy a tax break called the Income Tax Holiday or ITH for 4 to 7 years and choose between a low Special Corporate Income Tax (SCIT) rate of 5% or extra tax deductions for 10 years.

Meanwhile, companies targeting the local market can also get an ITH for 4 to 7 years and opt for enhanced deductions for 5 years.

3. Exemptions for certain individuals and entities

The Philippine tax system also provides exemptions for specific individuals and entities such as:

Senior Citizen and Persons with Disabilities (PWD) Exemptions

Senior citizens and PWDs may be eligible for income tax exemptions, as well as VAT exemptions or discounts on specific goods and services.

Exemptions for Cooperatives

Cooperatives engaged in certain activities may benefit from exemptions on income tax, as well as VAT privileges.

Nonprofit and Charitable Organizations

Non-profit entities engaged in charitable, religious, cultural, or educational activities may enjoy tax exemptions and incentives.

Tips for Effective Tax Planning in the Philippines

Take a look at some of the best practices for effective tax planning in the Philippines:

1. Income Splitting

As stated above, the Philippines has a progressive tax system which means higher incomes are subject to higher tax rates.

By distributing income among family members, you can potentially reduce the overall tax liability on that income.

Furthermore, some individuals or entities may be eligible for tax credits to offset their tax liability. Income splitting allows you to allocate income to individuals with available tax credits, therefore reducing the overall tax burden.

Income splitting can also be a strategy for those with huge estates who want to actualize an estate planning strategy.

By transferring income or assets, the size of your estate can be reduced. This helps facilitate the smooth transfer of wealth to the next generation.

2. Timing of income and expenses

This tip involves the deliberate deferral or acceleration of income and deductions to optimize an individual or business tax situation.

Managing capital gains, utilizing carryovers, meeting income thresholds, and aligning with business planning are all part of the possibilities with this strategy.

By following this tip, you can manage your tax rate effectively by choosing when to recognize income or incur expenses.

Smoothing your tax liability over multiple years is also possible if you want to avoid sudden spikes in tax payments.

Moreover, you can reduce your taxable income for the current year by deferring income and accelerating deductions to lower your tax liability.

This strategy also maximizes the utilization of available deductions and exemptions.

Keep in mind that timing should always adhere to tax laws and be based on legitimate financial and business decisions.

3. Utilizing tax credits and deductions

It is recommended to take full advantage of available tax credits and deductions to reduce your overall tax liability.

Tax credits are direct reductions in the amount of tax you owe. Ensure that you claim all eligible tax credits you qualify for.

For example, if you donate to a BIR-accredited charity, you can claim a tax credit for the donated amount.

4. Investing in Tax-Advantages accounts

Utilizing the following tax-advantaged and tax-efficient accounts can help you grow your wealth and secure your financial future while minimizing the impact of taxes.

Pag-IBIG HDMF (Home Development Mutual Fund) – MP2

Consider investing in this tax-free savings account, offering attractive dividend rates (usually 5-7%) and a 5-year maturity period.

The earnings from MP2 are tax-free, allowing your savings to grow faster.

SSS ( Social Security System ) Flexi and Peso Funds

For Overseas Filipino Workers (OFWs), the Flexi Fund is an option that invests in 91-day T-bills, while the Peso Fund is invested in 5-year T-bonds and 365 T-bills.

Contributions and interest in these funds are not subject to tax.

PERA (Personal Equity Retirement Account)

With PERA , you can enjoy a 5% tax credit on annual contributions. Moreover, the income and withdrawals after retirement (usually at age 55) are tax-exempt.

This account offers a tax-efficient way to save for retirement.

Tax-Efficient Investment Accounts

Consider low-cost index funds under ETFs and Mutual Funds , as they minimize trading activity and offer lower taxation.

ETFs in particular are very tax-efficient since you will be only taxed when you sell your shares. This helps you enjoy tax deferral.

Tax-Managed Fund

Some mutual funds are specifically designed to minimize tax burdens for investors.

While they may come with higher costs due to specialized services, they can be worthwhile if you have a higher income and are in a higher tax bracket.

Real Estate Investment Trusts ( REITs ) and REIT-ETFs

These investment options provide tax-efficient exposure to the real estate market.

Non-Taxable Income Sources

Certain income sources and services are exempt from taxation, such as insurance proceeds (in most cases), riders for disability and critical illness, employer-provided insurance (life/health), municipal bonds (with tax-free interest earnings), tax-exempt money market funds (for parking cash), and Health Savings Accounts (HSAs) for medical expenses with tax-free compounding.

5. Tax incentives and exemptions

Most tax incentives and exemptions provide opportunities to minimize tax liabilities and promote economic growth at the same time.

As stated above, availing Special Economic Zone (SEZ) Benefits gives you substantial tax benefits if you operate in these designated zones.

For example, your business will be exempt from paying income tax for a specific period. You may even enjoy duty-free importation of essential equipment and streamlined customs procedures.

The Philippine government even offers various tax holidays and incentives designed to stimulate business growth.

Meanwhile, Research and Development tax incentives provide deductions and exemptions for R&D-related expenses to encourage innovation. Export-oriented businesses can also benefit from VAT zero-rating and exemptions on export earnings.

Also, the Alternative Modes of Compliance (AMoC) allow businesses to choose the most tax-efficient treatment applicable to their industry.

Finally, exemptions are available for specific individuals and entities. By understanding and capitalizing on these incentives, businesses can optimize their tax positions.

6. Considerations for Business Owners

For business owners in the Philippines, there are several strategies that can help minimize taxes.

One crucial decision is choosing the right business structure , such as a sole proprietorship, partnership, or corporation.

Each structure has its own tax implications, and selecting the one that aligns with your business goals and financial circumstances is essential for tax efficiency.

Proper documentation and record-keeping are also equally important. It should be your priority to have accurate records of income, expenses, and transactions that allow you to claim legitimate deductions and credits while staying compliant with tax regulations.

This practice not only minimizes the risk of audits and penalties but also ensures you’re making the most of available tax benefits.

Deducting business expenses and capital allowances is another vital strategy. Business owners can deduct various expenses related to their operations, such as rent, salaries, utilities, and interest on business loans .

Additionally, capital allowances can be claimed for asset depreciation.

Lastly, regularly assess your business activities for opportunities to optimize tax efficiency. This step includes identifying tax credits and incentives.

7. Real estate and capital gains

When selling real estate or other capital assets, you may incur significant capital gains tax. To minimize this tax, consider the following tips:

Hold for the long term

Holding your property for at least one year before selling it can result in lower capital gains tax rates. The longer you hold, the lower the tax rate becomes.

Utilize the Family Home Exemption

Individuals who sell real property in the Philippines are subject to a tax rate of 6% based on either the property’s selling price or its fair market value, whichever amount is higher.

However, there is an exception to this rule when the property being sold is the individual’s principal residence and the proceeds from the sale are used to purchase or build a new principal residence.

This exemption can be used once every 10 years.

Offset Gains with Losses

If you have incurred capital losses from other investments, you can offset these against your capital gains to reduce your overall tax liability.

Understand your property tax implications

Taxpayers in the Philippines should also have a thorough understanding of real property tax implications.

This is imposed on land, buildings, and improvements in the Philippines. To navigate this tax efficiently, keep these tips in mind:

Know Your Property Classification: Properties are classified into different categories, each with its own tax rates. Ensure that your property is correctly classified to avoid overpaying.
Keep Updated Records: Keeping accurate records of payments and deadlines can help you manage your tax obligations effectively.
Check for Exemptions: Certain properties may qualify for exemptions or reduced tax rates, such as agricultural land or properties used for low-cost housing.
Consider Tax Amnesty Programs: The Philippine government periodically offers tax amnesty programs that allow property owners to settle arrears at reduced rates. Participating in such programs can provide relief from overdue taxes.
Review Property Valuations: Real property tax is based on assessed property values. Regularly review the valuation of your property to ensure it accurately reflects its market value and avoid over assessment.

8. Estate Planning and Donor’s Tax

Take a look at the following tips to help you reduce estate tax liability through strategic gifting:

Exempt Gift

Certain gifts are entirely exempt from donor’s tax, including those made to the government or charitable institutions. By directing your gifts toward these exemptions, you can minimize tax liability.

Gradual Wealth Transfer

Plan to gradually transfer assets to heirs over time rather than waiting until later stages of life to spread out potential tax liabilities.

Setting Up Trusts and Other Estate Planning Tools

Trusts and estate planning tools can be effective in minimizing estate tax liability and ensuring the smooth transfer of assets:

Irrevocable Trusts: Transferring assets into an irrevocable trust can remove them from your taxable estate.
Life Insurance: Consider using life insurance policies to provide tax-free benefits to beneficiaries. The proceeds are typically not subject to estate tax, making it a useful tool for wealth transfer.
Family Corporations: Some families opt to establish family corporations to manage assets and facilitate their transfer to heirs more efficiently.

9. Seeking professional advice

Tax professionals and accountants are experts in taxes. Their deep knowledge and experience allow them to uncover deductions, credits, and exemptions you might overlook.

Remember that Philippine tax laws change frequently and it is the job of these professionals to stay up-to-date with these shifts and understand how they impact taxpayers.

Furthermore, they are helpful in assessing your financial situation, business activities, and goals to create customized tax strategies that consider factors like income sources, investments, deductions, and exemptions.

Related: Top Accounting Firms in the Philippines

When it comes to audit or tax disputes, tax professionals also provide valuable assistance and can represent you before tax authorities, address questions, and ensure your tax records are well-prepared and compliant with laws.

This decreases the stress and potential financial impact of audits.

10. Using digital tools and software

Using digital tools and software can greatly simplify the tax filing process and help you stay organized.

For example, tax software will take the bulk of the hassle out of tax planning and filing. This not only saves you time but also reduces the chances of errors in your tax returns.

In many ways, going digital with record-keeping can also be a game-changer. This involves storing your financial documents, receipts, and transaction records electronically. They’re also less likely to get lost or damaged.

A tax software will also do the math for you, therefore reducing manual data entry and keeping you informed about tax changes in real-time.

Most tax software providers also come with strong security features to protect your financial data, plus they are compliant with government regulations and guidelines.

Lastly, digital tools let you manage your taxes from anywhere with an internet connection. This flexibility is particularly useful for professionals who are always on the go or have multiple businesses to manage.

Check out our in-depth guide on finance apps to know the best personal finance online tools for taxes in the Philippines.

About MJ de Castro

MJ de Castro is the lead personal finance columnist at Grit PH.

MJ started her career as a writer for her local government’s City Information Office. Later on, she became a news anchor on PTV Davao del Norte.

Wanting to break free from the shackles of her 9-to-5 career to live by the beach, she pursued remote work. Over the years, she has developed a wide specialization on health, financial literacy, entrepreneurship, branding, and travel.

Now, she juggles writing professionally, her business centering on women’s menstrual health, and surfing.

Education: Ateneo de Davao University (AB Mass Communication) Focus: Personal Finance, Personal Development, Entrepreneurship, & Marketing

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The determinants of profitability of all publicly listed construction companies in the ASEAN-5 from the years 2019-2021 , Elian Justin Acierto, Mark Christian Lim, Ron Miguel Rivera, and Palm Eric Rosario

Building a sustainable future through taxation: Examining the effect of taxation on the achievement of sustainable development goals (SDGs) in developed and developing countries in Asia and Europe , Danielle D. Aguirre, Ma. Josenie Kate U. Dellova, Alyssa Rose M. Pascua, and Kurt Zyvyl M. So

Exploring the susceptibility of fraudulent financial reporting among government-owned and/or controlled corporations in the Philippines using fraud risk factors with the moderating effect of corporate governance , Lorian Aliana Polintan Alcaraz, Abbygail Cuevas Condenuevo, Alexandra Nicole Manaig Perez, and Xyrelle Joyce Torreliza Tejoso

Self-perceived licensure examination preparedness of DLSU graduating accountancy students under non-traditional learning: An explanatory sequential design , Erin Angela Pang Alfonso, Herald John Bernardino Castro, Regina Bernadeth De Guzman Dela Cruz, and Regina Leigh Cruz Lacson

The effect of sustainability reporting on the financial performance and firm value among publicly listed firms in the Philippines in 2019 and 2020 , Martin Jiro S. Alix, Kyle Sidney C. Co, Carl David M. Hernandez, and Arwenna Mae T. Sarmiento

Career readiness of graduating BSA students of De La Salle University - Manila in industry 4.0 , Micah Ela A. Aman, Justine Keith D. Dela Cerna, Camille Patrice L. Orpilla, and Carl Abhram P. Pascua

The effects of case-based pedagogy on the academic performance of DLSU BSA students as mediated by student engagement and satisfaction , Joyce Anne Amoroso, Danica Marie Carpizo De Guzman, Jay-ar Carias Guyena, and Feliza Rasine Melad Teñoso

The use of generalized audit software by Filipino external auditors: Impact of GAS features and actual usage , Cyrus John B. Andin, Gregorio Rafael D. Herrera, Enrico T. Nitura, and Chad Andrei M. Salazar

Corporate governance, firm size, and tax avoidance: How does corporate governance influence tax avoidance across small and large Philippine firms? , Christine E. Ang, Shawn Luther S. Chan, Sean Ellison G. Sow, and Siegwald K. Yap

Taking up space: An intersectional approach on the corporate experience of accounting professionals in the Philippines , John Paul T. Aquino, Reghis Fel H. Atienza, Samantha Nicole L. Leonardia, and Cristine Loraine M. Magsipoc

Firm-specific characteristics as a mediator in the effect of corporate governance on dividend policy before and during the COVID-19 pandemic among publicly listed Philippine companies , Marcus Gabriel A. Aquino, Giancarlo C. Itaralde, Alyssa Frances C. Jopson, and Michaela Louisse P. Zamora

Understanding undergraduate accounting students' future intention to engage in sustainability accounting: The case of De La Salle University — Manila , Frances Yzabel B. Aranas, Vivian Gayle Sweetcyl C. Haw, Manuel Thomas S. Granada, and Rheanne Angelica J. Mendoza

Effectiveness of DLSU pure online integrating courses in the CPA board exam performance during the pandemic period , Stephanie Ann M. Asuncion, Patricia D. Mojica, Ynna Louise O. Rabaya, and Gillian Nina E. Salazar

The impact of corporate governance on the performance of Philippine government-owned and/or controlled corporations for the period 2018-2021 , Alessandra Romana J. Aurello, Claire Madison C. Chua, and Dana Abigail L. Ong

An analysis on the effect of accounting practices and accounting controls on the business performance among micro-, small-, and medium-scale enterprises (MSMEs) in Quezon City, Philippines , Cara Julia Ching Baldovino, Caira Andrea Peran Husmillo, Jose Dominick Favis Lim, and Patrick Joseph Villegas Maglanque

Effects of learning and teaching dimensions on experiences during DLSU’s online learning modality: Opportunities for curriculum change , Joanna Marie S. Bello, Rance Trevor K. Tan, Fritz Michael C. Viclar, and Ethan Duane P. Yeban

Accounting standards and frameworks consolidation for reporting net-zero in energy companies of ASEAN-5 , Rakel Mari F. Bermejo, Paul Ishmael P. Molato, Guia Louise A. Morales, and Micah Benilde T. Tan

Preconception vs. cognizance: The perception of DLSU BSA undergraduates towards the accounting profession before and during college education , Gennise Bernadette T. Betita, Raven I. Dela Cruz, Elyzza Anne B. Romanes, and Kim Barbara S. Tolosa

Optimizing the transitionary breakthrough for a sustainable future of accountancy education: The influence of blended learning experience to the Industry 4.0 readiness of graduating accountancy students , Ericka C. Bilango, Kyle Justin H. Gan, Gillian Ira C. Lim, and Grainne T. Ong

Portfolio performance analysis in the ASEAN-5: Assessing bitcoin as a safe-haven investment and its effect on the performance of a diversified portfolio during the start of the COVID-19 pandemic , Roy Alberto Valenzuela Bonitez, Jessica Rose Sy Cheng, Sacha Angela Gabriel De Ocampo, and Katrina Jerica Carmelo Lui

The effect of budgeting and costing practices on the financial performance of small and medium restaurants in San Fernando City, Pampanga , Missy Tayao Borja, Christine Anne Liu Españo, Kirsten Grace Daquial Orda, and Lorraine Angeline Roy Touzo

The mediating effect of internship satisfaction on the relationship between OJT factors and career intention among DLSU BSA students and graduates , Ava Janelle Mercado Briones, Gabrielle Ann Reambillo, Kazandra Erika Franz Apao Vargas, and Nikki Ysabel Niu Yeung

Evaluating the balanced scorecard perspectives: A study of selected Philippine flour milling companies , Angeleen Buban, Caryl Kate Leang Sy, Stephanie Dy Poon, and Al Carney Eleazar Lim Chua

A comparative study on conceptual-based and experiential-based learning of accounting information systems as evaluated by different measures of effectivity , Jasmin Alaine R. Cai, Azel Randall P. Chua, Jeraldine Nicole C. Chua, and Aleeza Jnaica U. Liu

The mediating effect of financial restatement on corporate governance and investor confidence of publicly listed firms in the Philippine Stock Exchange index , Sherrina Cano, André Jefferson G. Lim, Chyna C. Tomas, and Mary June B. Valenzuela

The moderating effect of audit quality on the relationship between environmental, social, and governance scores and corporate financial performance of listed companies in the ASEAN-5 , Michaela Nicole U. Cheng, Aimee Joyce Y. Gepte, Sheena Nicole U. Jabile, and Daniel Patrick T. Manabat

From professional to pupil: Demystifying tax education in De La Salle University’s BS Accountancy Program through students’ perceived professional skills and practitioners’ experience , Dominique Letisha Yu Chua, Erika Isabel Virginia Santos Martirez, Mikaela Joan De Guzman Tangco, and Alaina Carlize Centeno Tria

Accountancy as a career choice: The effect of influences on the intention to pursue professional accounting qualifications among current junior and senior BSA students in DLSU as mediated by interest in accounting , Jill Geraldyn L. Chua, Kate Hannah G. Enriquez, and Gerardine A. Garcia

Impact of business strategies on tax avoidance of publicly listed companies (PLCs) in the Philippines: The moderating role of corporate governance , Tyron Jasper Li Chua, Margarita Christalyn Maulion Cortez, and Hans Mackenzie Dy Uy

Perception of DLSU-M accounting students on SMEs in the food and beverage service industry in the city of Manila that adopts sustainability accounting practices before and during the COVID-19 pandemic , Cleo Claire B. Cobankiat, Janella Bianca T. Siruno, and Jeryl S. Sy

A comparative study on the effectiveness of purely online and hybrid learning modes on the academic performance and learning experience of accountancy students in taxation courses of De La Salle University – Manila: A cross-sectional study , Julliana Grace Cua, Cherry Catherine Ng, Vanessa Bernadette Patricio, and Chance Aiseah Ramos

A study on the impacts of expectations, motives, and preparedness on the academic performance of DLSU freshman accountancy students , Janna Kaye Citron Cuenca, Rogenelle Anne Argao Delos Reyes, and Evangeline Kizza Marie Tankiang Manotok

Assessing the impact of greenhouse gas emissions on corporate performance of oil and gas companies worldwide from 2019 to 2021 , Luis Raphael S. De Guzman, Francis Philip D. De Leon, Jose Ricardo M. Fajanilag, and Bryan Miguel D. Tiamsim

The accountancy faculty shortage: Exploring an intervention to influence accountancy students' intention to pursue an academe career , Veronica Anna S. Dela Cruz, Jasmine Elizabeth K. Lin, Dominic N. Narag, and Julius Raphael I. Tenorio

The effect of the corporate governance of Philippine GOCCs on the issued annual audit opinion , Shannen Mari C. dela Pasion, Jhanca Mariz B. Baldovi, Jackie Riole J. Untalan, and Anne Margareth G. Limsico

The nexus among intrinsic motivation, extrinsic motivation, ASEAN Economic Community readiness, and International Education Standards competencies using a moderated-mediated model: A test of self-determination theory by Deci And Ryan (1985) , Trisha Anne B. Dimailig, Honey Pearl P. Fernandez, Janica Ryaine T. Marquez, and Samantha Glo C. Revita

The moderating effect of firm visibility on the impact of corporate social responsibility on firm financial performance in Asia-Pacific publicly listed companies: A comparison between sensitive vs. non-sensitive industries , Kathrina S. Duyan, Audrey Lei T. Tan, Chennylle P. Verzosa, and Christine Mel C. Viernes

The impact of green initiative announcements on the stock prices of selected publicly listed companies in the food and beverage industry in ASEAN-5 , Samantha Nicole Fernandez Eguia, Angela Mikaella Baltazar Ferrer, Chikara Jane Sancho Grijaldo, and Nathaniel Adrian Ng Yanos

A study on the adoption of quick response (QR) code payments among micro and small enterprises in the City of Manila as mediated by the behavioral intention to adopt and moderated by age and income level , Jan Marie S. Espinosa, Ma. Maien B. Quiambao, and Vhianne Robie Mae V. Ramos

The application of accounting prudence on upper tone management (UTM) of publicly listed service companies in the Philippines through the interpretation of financial profitability and management discussion & analysis (MD&A) , Seth Rafael V. Feliciano, Clarissa Jae P. Lapan, Samantha Therese S. Piñgol, and Danielle Anne S. Potenciano

Beyond four walls: The effects of non-Curricular Activities Involvement on the Academic Performance of the De La Salle University Bachelor of Science in Accountancy Students , Erin Maxine C. Gallardo, Marc Zacchary C. Ram, Christian Jansen A. Supera, and Frances Anne G. Toong

The demographic, educational, economic, and social factors affecting the farm record-keeping activity of smallholder rice farmers in Pampanga, Philippines , Sharlynne Michelle C. Go, Chawne Hannah G. Gosyco, Claire Danielle C. Ng, and Kyllah Nicollaine M. Tumang

The effect of different community development activities as corporate social responsibility (CSR) programs to company profitability in the property industry of the Philippines for the period of 2019-2022 , Kristina Melisa E. Hamoy, Ma. Bianca N. Lazo, and Cezar Jerome O. Pana

The impact of aircraft capacity utilization on bankruptcy probability before and during Covid-19: Evidence from publicly-listed airlines in Asia, Europe, and the Americas from 2002 to 2021 , Trisha T. Huang, Leane A. Lin, and Joseph Regalado A. Siscar

The effect of internship dimensions on the experience of De La Salle University Bachelor of science in accountancy students , Bernard Adrian Y. Lu, Gamaliel Loim L. Niño, Carlos Miguel M. Raflores, and Andrew Wynford A. Sua

The impact of perceived factors on the intention of accounting professionals to use robotic process automation for accounting functions in the Philippines , Riam Levi A. Magalonga, Clarisse Antoinette M. Quodala, Allyana Jorge P. Rivamonte, and Jason Chong V. Sou

Sector level analysis: Impact of environmental, social, and governance performance on financial performance, stock performance, and firm value in Asia pre-and during the pandemic , Clarissa M. Piamonte, Ferdinand C. Panganiban Jr., Immah Jeanina L. Pesigan, and Jazehl Joy G. Valdez

The effects of bootstrapping potential, attitude, self-efficacy on the relationship between risk aversion and entrepreneurial intention among De La Salle University Accountancy students using moderated mediated analysis: A test of theory of planned behavior , Alexa Nicole L. Rosauro, Katrina B. Chioson, Sofia F. Gaspar, and Reizza Mae R. Necesito

The moderating role of board gender diversity on financial reporting transparency and stock returns: A study on publicly-listed firms in the Philippines before and during the COVID-19 pandemic , Michelle Andrea Santos, Marianne Ivy B. Estanislao, and Daniella Marie Espiritu Leonida

Lifestyle habits and study habits predict academic performance in hybrid modality of 4th-year Bachelor of Science in Accountancy students at De La Salle University - Manila , Shannen Virginia Antonio Silvino, Roel Vincent Burca Boreta, Mari Felicity Abril Lopez, and Geoffrey Ivan Laxama Roaring

Theses/Dissertations from 2022 2022

The effects of eco-efficiency on the profitability of ASEAN-5 companies from 2017-2019 , Angelica Sarah E. Abad, Alexandra Uniss Q. Geniebla, Sabina Allen C. Ma, and Allen Joshua F. Olaño

The impact of ESG ratings on the firm performance of listed companies in the ASEAN-5 , Arvin Marion Barroga Abaniel, Sophia-anne Marie Lavarez Domingo, Mike Alvinjay Ramos Jarin, and Josef Marcelus Igle Villanueva

ASEAN stock market reaction on the issuance of green bonds , Margaret L. Agarao, Gabriel Kean T. Ebeo, Richard Allen A. Jimenea Jr., and Victoria Elizabeth P. Yason

An empirical study on the effect of tax aggressiveness on financial performance and firm value with moderating role of corporate governance: Evidence from the Philippines , Jose Gabriel Delgado Aggabao, Jean Shairah Pia Horario Lectura, and Wesley Charles Sy Sam Tan

Before the next normal: How voluntary ESG reporting affects stock performance and trading among publicly-listed companies in the Philippines — An event study , Loren Andrea P. Alcaraz, Michel Ann A. Calapatia, Alia Isabella M. Joaquin, and Doris Wu

A comparative study on the effectiveness of De La Salle University-Manila's old and newly revised accountancy modular programs using selected factors of effectiveness , Marc Christopher Gache Alelis, Grace Anne Ericka Gadia Lui, Roniel Jiggy Kalaw Malañgen, and Charlene Grace Keh Tiong

The effect of corporate social responsibility, dividend policy and capital structure on firm value among selected Asian banking institutions during the scope of the COVID-19 pandemic , Ryann Kristoffer Soy Ang, Sharrie Mae Co Lao, and Anne Margarette Ventura Ong

Factors affecting the reporting of audit supervisors upon discovery of false sign-off among small and medium accounting firms in Metro Manila, Philippines , Irish Stacey Alano Arugay, Justine Alannah Gonzales Cruz, and Rodante Antonio Simbe Jr.

The impact of online distance learning on the work readiness of De La Salle University (Manila) bachelor of science in accountancy students , Raphael Joseph Camilo Atmosfera and Cheziel Lyn Gallon Cabacungan

The influence of fraud pentagon model on academic dishonesty of accountancy students in an online setup from the perspective of accounting educators as differed by the educators' gender , Tricia Nathalia J. Avila, Alyssa Amor B. Manigbas, Jose Raphael R. Miranda, and Joan Setias

The art of accounting: Business students’ perspectives on the ethicality of the creative accounting practice , Vincent Raven B. Baldomero, Monica Joyce S. Chua, and Shermaine Kayle C. Chua

Academic self-efficacy among graduating accountancy students during the COVID-19 pandemic: A convergent-parallel mixed methods study , Nell Charisse Ameera M. Bejasa, Rayhanah N. Decampong, Nikka Allyson D. Gue, and Pauline Sharry S. Tiu

An analysis on the bidirectional causal relationship between ESG performance and corporate financial performance of publicly-listed companies under sensitive industries in the ASEAN-4 emerging countries , Sophia Marie Regencia Beltrano, Sophia Rose Samonte Follosco, Ronnie Angelic Oliva Saraza, and Jewel Almodiel Vinson

The moderating impact of regulatory policy formation, corporate governance, and economic development on the relationship between the accounting environment and control of corruption in ASEAN countries , Vishal Bhagia, Colleen Monica K. Chiu, Jean Nicole L. Ng, and Bianca Alanis Ysabel C. Redulla

Assessing the self-efficacy of accounting professors from universities and colleges within the city of Manila in relation to the transition to online distance learning due to COVID-19 pandemic , Kashmir Jansen Oba Burgos, Mikaelle Angelica Banares Perez, Janne Emile Robellon, and Ma. Samantha San Juan Valero

A qualitative assessment of the business continuity practices of selected ASEAN banks in response to the COVID-19 pandemic , Hillary Anne V. Carbonel, Danica R. Manabat, Batrix Marie B. Perocho, and Alyssa Vienesse C. Tan

The effect of attitude, subjective norms, perceived behavioral control, and personality on the career decisions of accounting professionals in the Philippines as mediated by behavioral intention: A test of theory of planned behavior by Ajzen , Cheri Mae H. Claveria and Rochelle O. Nabos

The effect of corporate governance characteristics on selected financial ratios and firm value before and during the COVID-19 pandemic among publicly listed companies in the Philippines , Joebert L. Co and Danielz Rafael B. Javilinar

The impact of key audit matters and firm performance on investor reaction: An empirical study on the Philippine stock exchange index from 2016 to 2019 , Bianca Mae S. De Castro, Carmella Grace R. De Leon, Leiana Aika L. Go, and Erin Chelsea Y. Llobrera

Meeting expectations: A phenomenological study on the gap between the ICT competencies of BS Accountancy ID 117 graduates from De La Salle University and ICT competencies prescribed by the International Accounting Education Standards Board , Kurt Lewis O. Dela Cruz, Lance Mikhail Jason A. Go, and Laureen Macy C. Ong

An analysis of the factors influencing the audit opinion of cities in the Philippines during the COVID-19 pandemic , Pamela Grace Villavicencio Dela Cruz, Elyza Sophia Ramos Ladines, Frances Harriet Lituanas Lim, and Irish Giorgia Cuento Valera

An alignment study of the Bachelor of Science in Accountancy program in the Philippines, the International Education Standards, and the Certified Public Accountant Licensure Examination: Basis for curriculum reforms , Pauline C. Dela Peña, Caitlin Gail O. Rodil, Carl Fredrick P. Sayson, and Richmond Lloyd S. Young

A content analysis on the comment letters to IFRS IC: Accounting for cryptocurrencies , Jan Josef D. Domingo, Ronin J. Galido, Gabriel Angelo J. Jon, and Mark G. Rizada

The moderating effect of corporate social responsibility on the impact of COVID-19 on stock prices of selected Philippine publicly listed firms , Maraiah L. Fernandez, Alexander G. Gallamos, Jasteen Maer Panganiban, and Jaela Marie M. Talisic

Assessing the implementation of excise tax on sweetened beverages on manufacturing companies in the Philippines: Basis for tax reforms , Francesca Glen Esteban Gacal, Francesca Beatriz Agamata Reyes, Mireah Kyra Molina Wong, and Dominique Bianca Uy Yap

An analysis of the effect of board characteristics and the pandemic on sustainability performance among emerging markets , Ma. Beatrice Emmanuelle Z. Garcia, Ryen Keith Nibungco, and Ana Ysabelle T. Valenova

An event study on the effect of the COVID-19 pandemic on stock price of publicly listed companies in the ASEAN-5 , Jasper Salvio Jesswani, Lance Nitzcel Padilla Kho, Nica Franze Tan Lino, and Julian Franco Balcita Mejos

The effect of audit committee charateristics on audit fees and audit opinion with moderating effect of audit committee gender , James Adrian T. Lai, Denise Allyson D. Ng, Jillian Mitziko C. Limqueco, and Park Jinyeong

A multiple-group analysis on the moderating effects of remote auditing on the internal audit effectiveness of government-owned and or controlled corporations in the Philippines and its determinants , Christine Paola D. Lorenzo, Peter Ernest C. Mallari, Romeo Neil N. Manlangit, and Kelly Junine C. Yu

Effect of service sub-sector vulnerability due to the COVID-19 pandemic enhanced community quarantine on the cumulative abnormal returns of service firms listed in the Philippine Stock Exchange with disclosure tone as a moderating variable , Micah Jaye R. Maristela and Benelli Policarpio Tuazon

Future-proofing the accounting information systems profession: Prospects of a double degree bachelor of science in accountancy and bachelor of science in accounting information systems programs aligned with model curricula in De La Salle University-Manila , Carla Sofia T. Padilla, Katrina Louise C. Reyes, Henrico Gustav Mikhail P. Sanchez, and Monique Ellenor L. Sy

Accounting information vs. financial market information in explaining stock returns: Evidence from publicly listed non-financial firms in the ASEAN-5 stock markets from 2010 to 2020 , Roseanne N. Roque, Marielle Lissette U. Sarmiento, Yanesah Ann L. Tumambing, and Mary Gabrielle Eligius A. Yap

Theses/Dissertations from 2021 2021

The effect of environmental costs and factors affecting environmental accounting on firm profitability of publicly-listed industrial companies in the Philippines , Kaycee Nicole E. Acis, Rea Marie B. Diaz, and Abigail Faith B. Javier

The effect of COVID-19 pandemic government response to top global airline stocks’ performance and risk profile as controlled by market returns , Alysson Ace B. Agustin, Marcellin Enrico M. Cruz VII, Ysabelle Mikayla S. Orlino, and Sean Patrick T. Uy

The effects of capital structure on the financial performance of publicly listed commercial banks: Evidence from the ASEAN-5 countries , Ricardo Raphael Alday Atienza, Jasmine Alliah Kiu Bactat, Jamie Angela Lee Chua, and Kristen Kyla Lim Tan

The moderating effect of ownership structure between the relationship of corporate social responsibility and firm performance in the ASEAN-5 , Mari Luis Augustin T. Avila, Katherine Ann J. Fernandez, Louise Kyle V. Ngo, and Dave Johann Y. Tan

The effect of information system capabilities on medium and large enterprises’ firm performance: A moderated mediation analysis , Chanelle Z. Batin, Johncary Angelo N. Laysico, Quennie G. Robiso, and Francesca Margaret Red M. Santos

A‌ ‌comparative‌ ‌analysis‌ ‌of‌ ‌key‌ ‌financial‌ ‌ratios‌ ‌of‌ ‌Philippine‌ ‌publicly‌ listed‌ companies‌ ‌before‌ ‌and‌ ‌during‌ ‌COVID-19‌ , Alec Johnson C. Billan, Jemaiah Lorraine M. Delima, Ram Steven Martin S. Naval, and Magick Dovelyn S. Wee

The impact of adjustment, agency, and political costs on cost stickiness of publicly listed companies in the Philippines from 2009-2019 , Angela Bianca N. Catalig, Charles Justin M. Decena, Maria Denise A. Franco, and Ma. Colleen L. Ventura

The effect of value added intellectual coefficient, firm size, and leverage on business performance in the ASEAN-5 service industry , Jessica Maris H. Chen, Sophia Kelly G. Chua, and Alyana Ysabel A. Tan

Cross-country and regional Analyses on the effect of environmental accounting on financial profitability, liquidity, marketability, leverage, and firm value of environmentally sensitive industries across the ASEAN-5 , Venz Luis D.M. Delos Reyes, Jovelle Anne T. Laggui, Matthew O. Lagonera, and Rhazelle Teemee S. Lapuz

Analyzing the effect of accountability, government characteristics, and citizen participation on the financial performance of Philippine cities , Lou Brad N. De Nobili, Chelsie Marie D. Gumba, Alexander E. Rodriguez Jr., and James Vincent E. Rodriguez

An event study on the market's reaction on information technology Investment announcements of selected publicly listed companies in the Philippines , Elysia Kallysta R. Falco, Jose Eduardo A. Guillermo, Rafael Angelo A. Laya, and Kyra Isabelle G. Monje

Religiosity and its effects on financial reporting quality of publicly listed companies from 3 ASEAN countries with COVID-19 as a moderator: A PLS-SEM model study , Javier Francisco B. Laurena, Nicole Elise O. Torres, Jansen C. Kang, and John Andrew C. Andrada

Theses/Dissertations from 2016 2016

A study on the impact of environmental management practices on firm growth of publicly listed companies under the Philippine industrial sector from 2011 to 2015 , Ed Norvile John B. Aba, Gean Margaret S. Manalastas, Jenn Mae Clarisse C. San Pedro, and Janneth S. Tee

The effects of ownership concentration on the financial performance of publicly-listed companies in the ASEAN region , Kristina Pauline B. Abesamis, Jiro Nigel Cadungon, Hans Cedric O. Lee, and Ida Frances T. Santiago

Factors affecting audit fees of Philippine listed non-financial firms , Miguel Marciano M. Advincula, Rafael Q. Ocampo, Joshua T. Pamaran, and Pramela D. Menghrajani

Propensity in intangible investments: Firm heterogeneity among publicly listed ASEAN consumer discretionary and consumer staples firms , James Paulo G. Agnes, Aaron Cade D. Cariño, Michael Eugene C. Santiago, and Allen Ivan P. Sta. Maria

Recalibration and improvement of the Altman, Zmijewski, and Prophecy model: Earnings management as a predictor of bankruptcy of Philippine manufacturing firm , Eugene C. Aguirre, Noel Christian C. Marcojos, Leomar T. Santiago, and Alyssa Gale D. Valeriano

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An Ultimate Guide to Philippine Tax: Types, Computations, and Filing
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COMMENTS

NTRC Tax Research Journal
January - February 2022. Assessment of the Socialized Housing Tax in Quezon City. Analysis of the 2016-2020 Revenue Performance of Local Business Taxes under Sections 143 and 151 of the Local Government Code of 1991, As Amended. November - December 2021. Revenue and Tax Effort Analysis in ASEAN Countries, 2010-2019.
(PDF) Tax Incidence of Philippine Tax Reform: Poverty and
We first review 144 studies from the perspectives of bibliometric information (i.e., publication types, research topics for poverty, research objects, research scales and geographic locations) and ...
A conceptual framework for digital tax administration
Except for the sole article by Canares (2016), which draws on the digital Ecosystem approach to explore tax administration in the Philippines, current research lacks an explicit understanding and integration of the approach to the e-tax 1 literature, as well as whether adoption of such an approach will provide clarity to the pre-existing ...
Business and Local Taxation in The Philippines
The Philippines is well-suited to research on local taxation. On the one hand, it is the most fiscally decentralized state in Southeast Asia, and among the most decentralized states in the developing world, when measured by the share of local government expenditures funded by own-source revenues (Bahl and Bird 2008 ).
Tax insights
The Philippines has about 44 bilateral tax agreements to eliminate or mitigate double taxation of cross-border transactions involving certain types of income (e.g., service fees, dividends, interest, royalties). In eliminating double taxation, the 2017 Organisation for Economic Co-operation and Development (OECD)... 04 Apr 2024.
Business and Local Taxation in The Philippines
Abstract. This article argues that weak local governments increase levels of taxation by "borrowing" institutional capacity from certain types of businesses. While many businesses lobby against taxation, businesses that are locally owned, nationally connected, and logistically complex build robust associations that support taxation.
NTRC Tax Research Journal 2021
NTRC Tax Research Journal 2021. November - December 2021. Revenue and Tax Effort Analysis in ASEAN Countries, 2010-2019. Implications of Section 16 and 17 of Republic Act No. 11534. September - October 2021. Profile and Taxation of Cooperatives in the Philippines and in the ASEAN Region. Proposed Market-Based Instruments to Support the Local ...
PDF THE TAX REFORM
THE PHILIPPINES1: CRITICAL COLLABORATION AND ADAPTABILITY TO INFLUENCE TAX REFORM Founded in 1996 by progressive scholars and activists to provide an independent voice on fiscal reform, industrial policy and taxation, Action for Economic Reforms (AER) in the Philippines works through many avenues to influence policy: " research and analysis, lobby and dialogue, networking and coalition building,
Tax, from The Report: Philippines 2021
This chapter examines the tax system of the Philippines, focusing primarily on the tax implications of Bayanihan 1 and 2, introduced during 2020 in an effort to mitigate the impact of the Covid-19 pandemic, as well as transfer pricing, the arm's length principle and audit guidelines. The chapter also includes an analysis of tax compliance.
Guide to Philippines Tax Law Research
The basic source of Philippine tax law is the National Internal Revenue Law, which codifies all tax provisions, the latest of which is embodied in Republic Act No. 8424 ("The Tax Reform Act of 1997"). It amended previous national internal revenue codes, which was approved on December 11, 1997.
A Look Back on Changes to the Philippine Individual Tax Landscape
TRAIN provided individuals with a restructured personal income tax table. The changes included the option to avail of the 8% flat income tax rate and the use of the enhanced BIR Firm No. 1701 or the annual income tax return for mixed income earners, estates and trusts. The BIR was also gradually expanding its digital platforms.
Categorizing Taxpayers: A Mixed-Method Study on Small Business Tax
Research limitations and implications:The mixed-method approach elucidates why taxpayers have diverse motivations for tax compliance. This study adds to the literature a new perspective on tax ...
Philippines Tax Sector Research Highlights
The Philippines posted average economic growth of 6.4% over 2010-19. While the Covid-19 pandemic tested the country's resilience during 2020, the response measures contained within the two national stimulus packages, Bayanihan 1 and 2, provided support to vulnerable industries. Meanwhile, the rollout of the imminent Corporate Recovery and Tax ...
Journal
NTRC Tax Research Journal 2021. November - December 2021. Revenue and Tax Effort Analysis in ASEAN Countries, 2010-2019. Implications of Section 16 and 17 of Republic Act No. 11534. September - October 2021. Profile and Taxation of Cooperatives in the Philippines and in the ASEAN Region.
The feasibility of reducing personal income tax in the Philippines: Its
This study was conducted to determine the feasibility of reducing personal income tax in the Philippines. Qualitative Study approach particularly Economic Feasibility was used in the study. The power of taxation proceeds upon the theory that the existence of government is a necessity; that it cannot continue without means to pay its expenses; and that for these means it has a right to compel ...
Assessing the Awareness of People in Philippine Taxes as Part of the
Governments must also modify tax rates and spending to boost or hinder economic growth. The study aims to evaluate one of the government's financial duties, income redistribution through taxation, and to develop an information dissemination campaign for Filipinos. PRISMA was employed in the study to obtain and communicate information about ...
Creating the Enabling Environment for More Transparent and Better
This research joins the growing body of literature that advocates for the use of information and communication technology (ICT) in local governance more particularly in public financial management. ... Use of ICT in taxation in Bohol, Philippines. Bohol, in the heart of Central Visayas, is the 10th largest island in the Philippines. It ...
50+ Focused Taxation Research Topics For Your Dissertation
50+ Focused Taxation Research Topics For Your Dissertation. Published by Ellie Cross at December 29th, 2022 , Revised On May 2, 2024. A thorough understanding of taxation involves drawing from multiple sources to understand its goals, strategies, techniques, standards, applications, and many types. Tax dissertations require extensive research ...
A Guide to Taxation in the Philippines
The country imposes a territorial tax system, meaning only Philippine-sourced income is subject to Philippine taxes. Corporate income tax. From July 2020 to 2022, foreign companies will be eligible for a reduced corporate income tax (CIT) rate of 25 percent, down from the regular rate of 30 percent.
The Philippines: Critical collaboration and adaptability to influence
Founded in 1996 by progressive scholars and activists to provide an independent voice on fiscal reform, industrial policy and taxation, Action for Economic Reforms (AER) in the Philippines works through many avenues to influence policy: "research and analysis, lobby and dialogue, networking and coalition building, legal action, media work, publication and public education".
Taxes in the Philippines [Taxation Guide for 2024]
Meanwhile, a foreign corporation with a branch in the Philippines is subject to taxation on the income generated in the country. Branch taxable income is calculated in the same way as subsidiary taxable income. Effective from July 1, 2020, Philippine corporations are taxed at a rate of 25% (from 30%).
Accountancy Bachelor's Thesis
Meeting expectations: A phenomenological study on the gap between the ICT competencies of BS Accountancy ID 117 graduates from De La Salle University and ICT competencies prescribed by the International Accounting Education Standards Board, Kurt Lewis O. Dela Cruz, Lance Mikhail Jason A. Go, and Laureen Macy C. Ong.
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Taxation helps build and develop our country. All the powers, programs, projects and activities of our government is implemented with the help of proper taxation. As complex and intricate our tax laws, rules and regulations have become, let us simplify and understand them. Let us become knowledgeable taxpayers, and help our fellow men help in ...

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