TAX ON INCOME (As Last Amended by RA No. 10653)
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CHAPTER I - DEFINITIONS
SEC. 22. Definitions.
CHAPTER II - GENERAL PRINCIPLES
SEC. 23. General Principles of Income Taxation in the Philippines.
CHAPTER III - TAX ON INDIVIDUALS
SEC. 24. Income Tax Rates. SEC. 25. Tax on Nonresident Alien Individual. SEC. 26. Tax Liability of Members of General Professional Partnerships.
CHAPTER IV - TAX ON CORPORATIONS
SEC. 27. Rates of Income tax on Domestic Corporations. SEC. 28. Rates of Income Tax on Foreign Corporations. SEC. 29. Imposition of Improperly Accumulated Earnings Tax. SEC. 30. Exemptions from Tax on Corporations.
CHAPTER V - COMPUTATION OF TAXABLE INCOME
SEC. 31. Taxable Income Defined.
CHAPTER VI - COMPUTATION OF GROSS INCOME
SEC. 32. Gross Income. SEC. 33. Special Treatment of Fringe Benefit.
CHAPTER VII - ALLOWABLE DEDUCTIONS
SEC. 34. Deductions from Gross Income. SEC. 35. Allowance of Personal Exemption for Individual Taxpayer. SEC. 36. Items not Deductible. SEC. 37. Special Provisions Regarding Income and Deductions of Insurance Companies, Whether Domestic or Foreign. SEC. 38. Losses from Wash Sales of Stock or Securities. SEC. 39. Capital Gains and Losses. SEC. 40. Determination of Amount and Recognition of Gain or Loss. SEC. 41. Inventories. SEC. 42. Income from Sources Within the Philippines.
CHAPTER VIII - ACCOUNTING PERIODS AND METHODS OF ACCOUNTING
SEC. 43. General Rule.
SEC. 44. Period in which Items of Gross Income Included.
SEC. 45. Period for which Deductions and Credits Taken. SEC. 46. Change of Accounting Period.
SEC. 47. Final or Adjustment Returns for a Period of Less than Twelve (12) Months.
SEC. 48. Accounting for Long-term Contracts.
SEC. 49. Installment Basis.
SEC. 50. Allocation of Income and Deductions.
CHAPTER IX - RETURNS AND PAYMENT OF TAX
SEC. 51. Individual Return. SEC. 52. Corporation Returns. SEC. 53. Extension of Time to File Returns. SEC. 54. Returns of Receivers, Trustees in Bankruptcy or Assignees. SEC. 55. Returns of General Professional Partnerships. SEC. 56. Payment and Assessment of Income Tax for Individuals and Corporations. SEC. 57. Withholding of Tax at Source. SEC. 58. Returns and Payment of Taxes Withheld at Source. SEC. 59. Tax on Profits Collectible from Owner or Other Persons.
CHAPTER X - ESTATES AND TRUSTS
SEC. 60. Imposition of Tax. SEC. 61. Taxable Income. SEC. 62. Exemption Allowed to Estates and Trusts. SEC. 63. Revocable trusts. SEC. 64. Income for Benefit of Grantor. SEC. 65. Fiduciary Returns. SEC. 66. Fiduciaries Indemnified Against Claims for Taxes Paid.
CHAPTER XI - OTHER INCOME TAX REQUIREMENTS
SEC. 67. Collection of Foreign Payments. SEC. 68. Information at Source as to Income Payments. SEC. 69. Return of Information of Brokers. SEC. 70. Returns of Foreign Corporations. SEC. 71. Disposition of Income Tax Returns, Publication of Lists of Taxpayers and Filers. SEC. 72. Suit to Recover Tax Based on False or Fraudulent Returns. SEC. 73. Distribution of Dividends or Assets by Corporations.
CHAPTER XII - QUARTERLY CORPORATE INCOME TAX ANNUAL DECLARATION
AND QUARTERLY PAYMENTS OF INCOME TAXES
SEC. 74. Declaration of Income Tax for Individuals. SEC. 75. - Declaration of Quarterly Corporate Income Tax. SEC. 76. - Final Adjustment Return. SEC. 77. Place and Time of Filing and Payment of Quarterly Corporate Income Tax.
CHAPTER XIII - WITHHOLDING ON WAGES
SEC. 78. Definitions. SEC. 79. Income Tax Collected at Source. SEC. 80. Liability for Tax. SEC. 81. Filing of Return and Payment of Taxes Withheld. SEC. 82. Return and Payment in Case of Government Employees. SEC. 83. Statements and Returns.