Kinds of taxes

1. National and local taxes

Examples of national taxes
A. Estate and donor tax
B. Documentary tax
C. Income tax
D. Value added tax
E. Other percentae taxes
!. Excise tax
". #axes collected $y the BI%
&odes of and procedure for payment of taxes
1. 'ayments to the authori(ed aent $an)s
A. Cash payment * 1+) only
B. De$it system* current deposit
C. Chec) *
,. 'ayment $y chec)s* named to BI% and the tin num$er of the tax payer
-. Chec) accepta$le as payments * maners. cashier chec)s
/. Chec)s not accepta$le as payments* accommodation chec)s0 second endorsed chec)s0
post dated chec)s0 unsined chec)s0 or 1ith material alteration
Income tax
1. A citi(en of the 'hilippines residin therein shall $e taxa$le on all incomes 1ithin and
1ithout the 'hilippines.
,. A non resident citi(en is taxa$le only on income deri2ed 1ithin the 'hilippines.
-. Indi2idual citi(en 1or)in a$road is taxa$le only on the income deri2ed 1ithin the
'hilippines
/. Aliens are taxa$le only on income deri2ed 1ithin the philippines
3. Domestic corporations are taxa$le 1ithin and 1ithout of the philippines
4. !orien corporation are taxa$le on income deri2ed 1ithin the philippines
Income * ains deri2ed from capital 0 la$or or $oth 0 includin profits as 1ell as prices.
Income tax* is the tax on the net income of the tax payer in one taxa$le year. It ser2es as a
re2enue 0 offset reressi2e sales and consumption taxes0 and to mitiate the e2il arisin
from ine5ualitie.