Philippines: Income and profits taxes

* indicates monthly or quarterly data series
 Philippines

Income, profits, and capital gains taxes: percent of revenue

 Latest value 34.91
 Year 2022
 Measure percent
 Data availability 1990 - 2022
 Average 37.30
 Min - Max 27.93 - 42.08
 Source The World Bank
For that indicator, we provide data for the Philippines from 1990 to 2022. The average value for the Philippines during that period was 37.3 percent with a minimum of 27.93 percent in 1990 and a maximum of 42.08 percent in 2012. The latest value from 2022 is 34.91 percent. For comparison, the world average in 2022 based on 19 countries is 32.05 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Philippines - Income and profits taxes - Recent values chart

Historical chart
Philippines - Income and profits taxes - historical chart - 1990-2022




Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.


 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 15.01 2022 percent
 Government spending, in dollars 60.69 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -7.30 2022 percent
 Government debt 60.50 2021 percent
 Government expenditure 872.65 Q3/2023 billion
 Tax revenue 14.62 2022 percent
 Commercial tax rate 43.10 2019 percent
 Tax preparation time 171 2019 hours
 Number of taxes 13 2019 taxes
 Taxes on goods and services 25.86 2022 percent
 Taxes on international trade 24.34 2022 percent
 Income and profits taxes 34.91 2022 percent
 Foreign aid 1,632.45 2021 million U.S. dollars
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