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Percentage Tax CoverageTaxable BaseTax RateProfessional basketball games (in lieu of all other percentage taxes of whatever nature and description)Gross receipts15%Jai-alai and race trackGross receipts30%Winnings on horse races· Winnings or 'dividends'10%· Winnings from double forecast/quinella and trifecta bets4%24 more rows
2021 federal income tax brackets Tax rateTaxable income bracket12%$14,201 to $54,20022%$54,201 to $86,35024%$86,351 to $164,90032%$164,901 to $209,4003 more rows
We will calculate the tax rate using the below formula: Tax rate = (Tax amount/Price before tax) × 100% = 5/20 × 100% = 25%.
Your quarterly percentage tax is calculated by multiplying 1% to your quarterly gross sales or receipts. Gross sales and receipts pertain to all the earnings or revenues you receive from your client/business. Here's how the formula would look like: Quarterly Percentage Tax Due = Gross Receipts x 1%
3% common carrier tax TNCs/Partner with valid \u201cCertificate of Public Convenience (CPC)\u201d engaged in the transport of passengers are subject to 3% common carrier tax under Section 117 of the Tax Code.
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People also ask

Prior to the passing of the law, businesses were required to file for percentage taxes monthly. With this in effect, percentage taxes will only have to be filed quarterly, saving you a few trips to your local Regional District Office (RDO).
The 3% tax on persons who are not VAT-registered because their annual sales or receipts do not exceed the VAT threshold of PHP 3 million is adjusted to 1% from 1 July 2020 to 30 June 2023 but will revert to 3% thereafter.
On the other hand, if a taxpayer is NON-VAT registered, it is subject to Tax Rate of 1% (From July 1, 2020 to June 30, 2023) or 3% (prior to July 1, 2020 and starting July 1, 2023) on its gross sales or receipts. Such tax is referred to as Percentage Tax.
The 3% tax on persons who are not VAT-registered because their annual sales or receipts do not exceed the VAT threshold of PHP 3 million is adjusted to 1% from 1 July 2020 to 30 June 2023 but will revert to 3% thereafter.
Filing and Payment of Percentage Taxes Percentage Tax in the Philippines is filed on a quarterly basis. This Percentage Tax return should be filed and paid to the BIR within 25 days after the end of each taxable quarter.

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