Final Income Taxation
Final Tax on Individuals and Corporations
Non-resident alien not engaged in trade or business
Non-resident foreign corporation
Final Withholding Tax Return
Monthly remittance Return of Final Income Taxes Withheld
Monthly manual filing
Monthly deadline for eFPS filing
Quarterly Remittance Return of Final Income Taxes Withheld
Penalties for late filing or remittance of final income taxes
Exempted
Foreign Governments and Foreign GOCCs
International Missions/Orgs with tax immunity
General Professional Partnerships
Qualified Employee Trust Fund
Entities Taxable as Corporations are Subject to 10% Final Tax
Real Estate Investment Trusts
Business Partnerships
Taxable associations
Taxable joint ventures, joint accounts or consortia
Taxable co-ownerships
Interest Income Subject to Regular Tax
Lending activities, whether or not in the course of business
Investments in corporate bonds
Promissory notes
Foreign sources, whether bank or non-bank
Penalty for legal delay or default
Features of Final Income Taxation
Final Withholding system
Rationale of Final Income Tax
Passive Income
Non-resident persons not egaged i business iin the Philippiines
Passive Income Subject to Tax
Interest or yield from bank deposits or deposits substitutes
Domestic dividends, In general
Dividend income from a real estate investment trust
Share in the net income of a business partnership, taxable associations, joint venture, joints accounts, or cor-ownership
Royalties, In general
Prizes exceeding P10,000
Winnings
Informer's tax reward
Interest income on tax-free corporate covenants bonds
Other Final Income Taxes
Fringe benefits or managerial or supervisory
Income payments of residents other than depository banks under EFCDS and EFCDUs
Income payments to oil exploration service contractors or sub-contractors
Dividends
Cash Dividends
Property Dividends
Scrip Dividends
Stock Dividends
Liquidating dividends