TAX - 

A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an

individual or legal entity) by a governmental organization in order to fund government spending and

various public expenditures (regional, local, or national)

- A tax is a governmental organization's mandatory financial charge or other sort of levy

placed on a taxpayer to fund government spending and various public expenses.

TAXES IN THE PHILIPPINES

 Philippines Capital Gains Tax

Capital Gains Tax is a tax imposed on the gains presumed to have been realized by the

seller from a sale, exchange, or other disposition of capital assets located in the

Philippines, including pacto de retro sales and other forms of conditional sale in the

Philippines.

Capital Gains Tax is a tax imposed on gains considered to have been realized by the seller as a

result of a sale, exchange, or other disposition of capital assets located in the Philippines,

including pacto de retro sales and other types of conditional sales in the Philippines.

 Philippines Documentary Stamp Tax

Documentary Stamp Tax is a tax on documents, instruments, loan agreements, and

papers pertaining to the acceptance, assignment, sale, or transfer of an obligation,

rights, or property incident thereto in the Philippines.

Documentary Stamp Tax is a tax imposed in the Philippines on documents, instruments, loan

agreements, and papers related to the acceptance, assignment, sale, or transfer of an obligation,

rights, or property concomitant to it.

  Philippines Donor’s Tax
Donor’s Tax is a tax on a donation or gift, and is imposed on the gratuitous transfer of

property between two or more persons who are living in the Philippines at the time of

transfer.

The Donor's Tax is a tax levied on the gratuitous transfer of property between two or more

people who are resident in the Philippines at the time of the transfer.

 Philippines Estate Tax

Estate Tax is a tax on the rights of a deceased person to transmit his/her estate to

his/her lawful heirs and beneficiaries at the time of death and on certain transfers which

are made by law as equivalent to testamentary disposition in the Philippines.

Estate tax is a tax on a deceased person's right to transfer his or her estate to his or her rightful

heirs and beneficiaries at the time of death, as well as on some transfers made by law as equal to

testamentary disposition.

 Philippines Income Tax

Income Tax is a tax on all annual profits arising from property, profession, trades or

offices, or a tax on a person’s income, emoluments, profits, and the like in the

Philippines.

Income tax is a tax on all annual gains derived from property, profession, trades, or offices, as

well as a tax on a person's earnings, emoluments, profits, and the like.

  Philippines Percentage Tax
Percentage Tax is a business tax imposed on persons or entities who sell or lease

goods, properties, or services in the course of trade or business whose gross annual

sales or receipts do not exceed P550,000 and are not VAT-registered in the Philippines.

Percentage Tax is a business tax levied on persons or corporations who sell or lease goods,

properties, or services in the conduct of trade or commerce and are not VAT-registered in the

Philippines, and whose gross yearly sales or revenues do not exceed P550,000.

 Philippines Value Added Tax (VAT)

Value Added Tax (VAT) is a business tax imposed and collected from the seller or

vendor of services in the course of trade or business on every importation, sale of

properties (real or personal), or lease of goods and other properties (real or personal). It

is an indirect tax, thus, it can be passed on to the buyer in the Philippines.

VAT is a commercial tax that is levied and collected from the seller or vendor of services in the

course of trade or business on every importation, sale of real or personal property, or lease of

products and other properties (real or personal). Because it is an indirect tax, it can be passed on

to buyers in the Philippines.

 Philippines Withholding Tax on Compensation

Withholding Tax on Compensation is the final tax withheld from individuals receiving

compensation income in the Philippines. It is the employer’s responsibility to withhold

and pay these taxes on a monthly basis.

The final tax deducted from individuals receiving compensation income in the Philippines is the

Withholding Tax on Compensation. Employers are responsible for withholding and paying these

taxes on a monthly basis.

 Philippines Expanded Withholding Tax

Expanded Withholding Tax is a kind of withholding tax which is prescribed only for

certain payors and is creditable against the income tax due of the payee for the taxable

quarter year in the Philippines.

Expanded Withholding Tax is a type of withholding tax that is only applied to select payors and

is deducted from the payee's income tax liability for the taxable quarter year in the Philippines.

 Philippines Final Withholding Tax

Final Withholding Tax is a kind of withholding tax which is prescribed only for certain

payors and is not creditable against the income tax due of the payee for the taxable

year. Income Tax withheld constitutes the full and final payment of the Income Tax due

from the payee on the said income in the Philippines.

Final Withholding Tax is a type of withholding tax that is only imposed on select payors and is

not deducted from the payee's income tax liability for the taxable year. The entire and final

payment of the Income Tax due from the payee on the aforementioned income in the Philippines

is Income Tax withheld.

 Philippines Withholding Tax on Government Money Payments

Withholding Tax on Government Money Payments is the withholding tax withheld by

government offices and instrumentalities, including government-owned or -controlled

corporations and local government units, before making any payments to private

individuals, corporations, partnerships, and/or associations in the Philippines.

Government offices and instrumentalities, including government-owned or -controlled

enterprises and local government units, withhold withholding tax on government money

payments before making payments to private people, corporations, partnerships, and/or

associations in the Philippines.

LOAN - A loan is the money you receive from a bank or financial institution in exchange
for a commitment to repay the principal amount with interest. 
Since lenders take the risk of a possible default, they charge a fee to offset this risk –

and this fee is known as the interest. 

A loan is money given to you by a bank or financial organization in exchange for a promise to

repay the principal plus interest. Because lenders assume the risk of a prospective default, they

charge a fee to compensate for it, which is known as interest.

Types of Loan Repayment Methods

(The loan repayment option available to you may depend upon your lender and the type
of loan that’s issued.)
Your loan repayment options may be determined by your lender and the sort of loan you received.
1. EMIs –Equated Monthly Installments or EMIs, are the most popular loan repayment
option. Every installment involves a part of the principal and a part of the interest,
which is scheduled to be paid every month over a fixed tenure.  
The most common loan repayment option is Equated Monthly Installments, or EMIs. Every
installment includes a portion of the principal as well as a portion of the interest, and it is
scheduled to be paid every month over a set period of time.
2. Bullet Repayment – Some loan products may allow you to repay the loan through
bullet loan repayment method. In this option, you need to pay only the interest
component every month. When the loan tenure
You may be able to repay your loan using the bullet loan repayment method with some loan
products. You only have to pay the interest component each month if you choose this option.
When the borrowing period ends