Corporations
A. Basic Community Tax
Every corporation, no matter how created or organized,
domestic or resident foreign, engaged in or doing business in the Philippines
shall pay a basic Community Tax of Php 500.00.
B. Additional Community Tax
Additional tax of not exceeding Php 10,000.00 for the following:
If:
(a) From within the Philippines;
(b) In the preceding year:
for:
(1) Assessed value of real property -- Php 2.00 for every Php 5,000.00
(2) Gross receipts or earnings derived from business in the Philippines during the preceding year -- Php 2.00 for every Php 5,000.00
Dividends received from a corporation shall be considered part of gross receipts subject to additional Community Tax.
If:
(a) From within the Philippines;
(b) In the preceding year:
for:
(1) Assessed value of real property -- Php 2.00 for every Php 5,000.00
(2) Gross receipts or earnings derived from business in the Philippines during the preceding year -- Php 2.00 for every Php 5,000.00
Dividends received from a corporation shall be considered part of gross receipts subject to additional Community Tax.
C. Optional Community Tax
Any person or corporation that is exempt from the Community
tax but who desires to pay, shall pay Php 1.00.
