3% Percentage Tax Explained | How to Compute and File 3% Percentage Tax (Tagalog)

📚 Percentage tax is a business tax imposed on persons, entities, or transactions specified under the Tax Code, as amended, and as required under special laws. Persons, who are not VAT-registered, whose annual gross sales and/or receipts do not exceed three million pesos could also be liable to 3% percentage tax or other percentage tax.

📚 Persons refer to individuals and non-individuals, which include, but are not limited to, estates, trusts, partnerships, and corporations.

📚 Persons, who are not VAT-registered, who sell goods, properties or services, whose annual gross sales and/or receipts do not exceed three million pesos (Php3,000,000.00) and are exempt from value-added tax (VAT) under Section 109 (BB) of the National Internal Revenue Code, as amended by Republic Act (RA) No. 10963.

📚 Persons who lease residential units where the monthly rental per unit exceeds fifteen thousand pesos (Php15,000.00) but the aggregate of such rentals of the lessor during the year does not exceed three million pesos (Php3,000,000.00)

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🔗Links to Watch!
Basics of Business Taxes -    • Introduction to Business Tax | Basics of P...  
8% Optional Income Tax (Mixed Income Earner) -    • How to Compute Income Tax of Mixed Income ...  
How to file 2551Q -    • How to File Quarterly Percentage Tax Retur...  
Value Added Tax -    • Value Added Tax (VAT) in the Philippines  
Other Percentage Tax -    • Percentage Tax in the Philippines Explained  

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⌚️Time Stamps:
00:00​ Intro
00:13 What are Percentage Taxes
00:58 Who are Covered
01:32 How to Compute
03:00 How to File
03:57 Outro

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Disclaimer:
This video is mainly for academic purposes and is not a substitute in doing due diligence. For highly technical tax issues, seek professional assistance or contact BIR for proper tax compliance.