II. TAXATION
Philippine taxes are imposed by both the national government and the local
government units.
1. Tax Treaties
The Philippines has tax treaties with the following countries:
Australia Germany Pakistan
Austria Hungary Poland
Bahrain India Romania
Bangladesh Indonesia Russia
Belgium Israel Singapore
Brazil Italy Spain
Canada Japan Sweden
China Korea Switzerland
Czech Republic Malaysia Thailand
Denmark Netherlands United Kingdom
Finland New Zealand United States
France Norway Vietnam
2. National Taxes
2.1 Corporate Income Tax
A domestic corporation is taxed onits net income (gross income lessallowable
deductions) from all sources at the rate of 30 percent.
A resident foreign corporation, such as a branch, is taxed only on its net income
from Philippine sources at the same rate as a domestic corporation.