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Wednesday, 22 November 2006
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National Budget & Taxes
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National Budget

 

Total Volume 2002
2003 2004 2005

2006

(prognose)

in Billion Pesos
778.0
826.5 886.8 942.5 1,032.0 
n Billion Euro
16.0 13.5 12.7 13.7 15.7 

 

Deficit 2002 2003 2004 2005 2006 
in Billion Pesos 212.7 199.9 187.1 146.8 80.2                 
in Billion Euro 4.4 3.3 2.7 2.1 1.2 
in % of GDP 5.2 4.6 3.9 2.7 1.3 

 

Breakdown of budgetary expenditure(2005)

 

Debt service
34.1% 
Education
14.7% 
Internal security
5.9% 
Infrastructure
5.9% 
Health and social security
5.8% 
Defence
4.8% 
Agriculture
2.8% 
Miscellaneous
26.0% 


Breakdown of budgetary revenue (2005)

 

Income and corporation taxes
41.4%
Turnover tax and excise duty
29.4%   
Customs duties and trading taxes
19.3%
Land tax
0.1%
Non-taxable income
9.8%

 
Most important tax rates


Corporation tax     32%     and 0 /5% in special economic zones (s. u.)
Turnover tax         10%
Income tax            0–35%  for foreigners resident and working in the Philippines
                             25%      for foreigners not resident and working in the Philippines

 



Last Updated ( Tuesday, 28 November 2006 )