3.

Unfamiliar money exchanges with parts of unfamiliar banks approved by the Bangko Sentral ng
Pilipinas (BSP)

4. Unfamiliar money exchanges with OBUs in the Philippines

Pay SUBJECT TO 10% FINAL TAX

1. Premium pay got from unfamiliar money advances conceded to occupants other than OBUs or nearby
business banks

THE INCOME TAX LIABILITIES OF OBUs ON THEIR INCOME DERIVED FROM PHILIPPINES SOURCES ARE
SUMMARIZED AS FOLLOWS: TAX

TRAIN Law

Make Act

Pay got from unfamiliar money exchanges with:

Absolved

25% RCIT

Non-inhabitants

Absolved

25% RCIT

Other OBUs

Absolved

25% RCIT

Nearby Commercial Banks

Absolved

25% RCIT

Parts of Foreign Banks

Absolved

25% RCIT

Different Residents

10%

25% RCIT

Pay other than those got from FCDS exchanges

30% RCIT
25% RCIT

Documenting OF INCOME TAX RETURNS

● The documenting of annual government form will be made by the President, Vice-President or other
chief officials for the organization. The return will be committed to by the above official and by the
Treasurer or Assistant Treasurer. Statement of quarterly corporate personal duty on a combined
premise, is required physically, through Electronic Filing and Payment

Framework (EFPS), or through electronic BIR Forms.

MANUAL FILING

Quarterly return Within sixty (60) days following the end of every one of the initial three (3) fourth of
the available year whether schedule or financial year.

Last changed (yearly) return)

fifteenth day of the fourth month following the finish of the available year (i.e., April 15 applying for
company utilizing the schedule year)

ELECTRONIC FILING AND PAYMENT SYSTEM (EFPS)

● It is a framework created and kept up with by the BIR for electronically documenting assessment
forms, including connections, assuming any, and paying expenses due consequently, explicitly through
the web. After recording, a "Documenting Reference Number" is given by the EFPS as a control number
to recognize that an assessment form, including connections, has been effectively recorded
electronically.

Recording OF INCOME TAX RETURNS

People REQUIRED TO FILE AND PAY UNDER EFPS

1. Enormous Taxpayers

2. Top 20,000 Private Corporation

3. Top 5,000 Individual Taxpayers

4. Organizations with Paid-up Capital Stock of P10M or more

5. Getting Government Agencies concerning Withholding of VAT and Percentage Taxes

6. Citizen Account Management Program (TAMP) Taxpayers (RR No. 10-2014)

7. Certify Importer and Prospective Importer needed to get the BIR-ICC (RR No. 10-2014)

8. Public Government Agencies

9. Insurance agencies and Stock Brokers

10. All Licensed Local Contractors

11. Endeavors Enjoying Fiscal Incentives (PEZA, BOI, Various Zone Authorities, Etc.)