INCOME TAX ON INDIVIDUALS.doc

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INCOME TAX ON INDIVIDUALS Net Income Tax (5%- 32%) Gross Income Tax (25%) Final Tax Interes t, Royalti es, Prizes, other Winning s (20%) Royaltie s on Books, Literary works, Musical Composit ion (10%) Long Term Deposit Not Exceeding 5years (5%,12%,20 %) Foreig n Curren cy Deposi t (7.5%) Dividend s (10%) from Domestic Corp., Joint- Stock Co., Regional Operatin g HQ Final Tax on Stock s not Trade d (5%- 10%) Final Tax on Sale of Real Propert y (6%) based on FMV or GSP Allowab le Deducti on Person al Deduct ion Reside nt Citize n X Non- Reside nt Citize n X Reside nt Alien X Non- Reside nt Alien engage d in Trade or Busine X X 20% Subject to Rule on Recipro city X

Transcript of INCOME TAX ON INDIVIDUALS.doc

INCOME TAX ON INDIVIDUALS

Net Income Tax

(5%-32%)Gross Income Tax (25%)Final Tax Interest, Royalties, Prizes, other Winnings (20%)Royalties on Books, Literary works, Musical Composition

(10%)Long Term Deposit Not Exceeding 5years

(5%,12%,20%)Foreign Currency Deposit

(7.5%)Dividends

(10%) from Domestic Corp., Joint-Stock Co., Regional Operating HQFinal Tax on Stocks not Traded

(5%-10%)Final Tax on Sale of Real Property

(6%) based on FMV or GSPAllowable DeductionPersonal Deduction

Resident CitizenX

Non-Resident CitizenX

Resident AlienX

Non-Resident Alien engaged in Trade or BusinessXX20%Subject to Rule on ReciprocityX

Non-Resident Alien not engaged in Trade or BusinessX25% On all Income Including Passive25% On all Income Including Passive25% On all Income Including PassiveXX25% On all Income Including PassiveXX

Special Non-Resident AlienX15% of Gross IncomeXXX


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