Scribd
Upload
65 views3 pages

Understanding Ad Valorem and Specific Taxes

The document defines various types of taxes including VAT, estate tax, proportional tax, regressive tax, specific tax, indirect tax, direct tax, ad valorem tax, regulatory tax, fiscal/revenue tax, excise/privilege tax, national tax, revenue, tariff, license fee, tax, debt, toll, penalty, and provides criteria for determining VAT, excise tax, income tax, withholding tax, percentage tax, documentary stamp tax, gross receipts or sales, net worth, and gross purchases.

Uploaded by

Less Balesoro
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
65 views3 pages

Understanding Ad Valorem and Specific Taxes

The document defines various types of taxes including VAT, estate tax, proportional tax, regressive tax, specific tax, indirect tax, direct tax, ad valorem tax, regulatory tax, fiscal/revenue tax, excise/privilege tax, national tax, revenue, tariff, license fee, tax, debt, toll, penalty, and provides criteria for determining VAT, excise tax, income tax, withholding tax, percentage tax, documentary stamp tax, gross receipts or sales, net worth, and gross purchases.

Uploaded by

Less Balesoro
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

a consumption tax collected by non-VAT imposed on the gratuitous transfer of property

businesses upon death

other percentage tax estate tax

tax on gratuitous transfer of property by a living tax on residents of a country


donor
personal/capitation/poll tax
donor's tax

tax that remains at flat rate regardless of the


tax that decreases in rates as the amount or value of the tax object
value of the tax object increases
proportional tax
regressive tax

tax which is collected on a per unit basis


tax collected upon persons who are not the
specific tax
statutory taxpayers

indirect tax
tax is collected upon the statutory taxpayer

direct tax
tax that is imposed based on the value of the
tax object

ad valorem tax tax imposed to regulate businesses or


professions

regulatory tax
tax for general purpose

fiscal/revenue tax
tax upon performance of an act or enjoyment of
a privilege

excise/privilege tax
tax imposed by the national government

national tax
it refers to all income collections of the
government

a tax on sin products or non-essential revenue


commodities

excise tax
it is an imposition for the support of the
government
tax debt

it is imposed upon land adjacent to public criteria: Value Added Tax


improvements
at least P200,000 per quarter for the preceding
special assessment year

criteria: excise tax

it is imposed on imported and exported at least P1,000,000 tax paid for the preceding
commodities year

tariff

criteria: income tax

it is a charge imposed prior to the at least P1,000,000 annual income tax paid for
commencement of business or exercise of a the preceding year
profession

license fee
criteria: withholding tax

at least P1,000,000 annual withholding tax


it is a post-activity rather than a pre-activity payments or remittances from all types of
imposition withholding taxes

tax

criteria: percentage tax

it is subject to compensation or set-off at least P200,000 percentage tax paid or


payable per quarter for the preceding year
debt

criteria: documentary stamp tax


it is a charge for the use of other's property
at least P1,000,000 aggregate amount per year
toll

criteria: gross receipts or sales


it is an imposition intended to discourage an act
P1,000,000,000 total annual gross sales or
penalty
receipts

it arises from contracts rather than from law


criteria: net worth
P300,000,000 total net worth at the close of
each calendar or fiscal year

criteria: gross purchases

P800,000,000 total annual purchases for the


preceding year

You might also like