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  1. #181
    Stock trading gains do not need to be declared.

    But the BIR has these new regulations effective this year. If you are required to file an annual income tax return, you must also report your dividend income (and tax paid on those dividends) for the year. There is a space provided in the ITR form.

  2. #182
    KuyaDanny is correct, its 10% finaltax on dividends.

  3. #183
    Quote Originally Posted by cash_or_credit View Post
    KuyaDanny is correct, its 10% finaltax on dividends.
    What's your say about this:

    Kung kumita na ako sa stock.

    Tapos nag withdraw ako ng money sa online trading account ko.

    Based on my experience, when you sell a stock all the fees, taxes, etc. are already included on the sell invoice.

    The question is kailangan pa bang declare sa BIR ang kinita ko?

  4. #184
    Quote Originally Posted by KuyaDanny View Post
    Stock trading gains do not need to be declared.

    But the BIR has these new regulations effective this year. If you are required to file an annual income tax return, you must also report your dividend income (and tax paid on those dividends) for the year. There is a space provided in the ITR form.
    I've read also that all brokerage firms are required to submit to AMLA all stock traders who are deemed suspicious? Is this true?

  5. #185
    Yes. The reporting threshold is P500,000.

  6. #186
    @Kuya Danny and @cash_or_credit

    Is the 10% final tax on gross amount of dividends received is applicable only to Philippine citizen who received a cash or property dividend from a domestic corporation?

  7. #187
    Applicable to INDIVIDUALS who receive cash or property dividends from a Philippine corporation.

  8. #188
    Quote Originally Posted by KuyaDanny View Post
    Applicable to INDIVIDUALS who receive cash or property dividends from a Philippine corporation.
    Even if you're a foreigner, non-resident, resident straight forward 10 percent?

  9. #189
    Yes, even if you're a foreigner.

  10. #190
    What can you say about this?

    If you're a resident alien and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 10% on the gross amount of dividends received.

    But

    If you're a non-resident alien engaged in trade or business in the Philippines and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 20% on the gross amount of dividends received.

    Also

    If you're a non-resident alien not engaged in trade or business in the Philippines and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 25% on the gross amount of dividends received.

    So, it's not straight 10% right?

  11. #191
    Good point. Did you know the answer before you asked the question? You could have saved all of us the time and effort.

  12. #192
    Quote Originally Posted by KuyaDanny View Post
    Good point. Did you know the answer before you asked the question? You could have saved all of us the time and effort.
    No, I've just read it from the Tax Code of the Philippines.

    I only asked it here if it's true? And now I know.

  13. #193
    Just like to share it to everyone doing stock trading.

    Dividend Tax Rate

    1. If you're an individual Philippine citizen and you received a cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 10% on the gross amount of dividends received.

    2. If you're a resident alien and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 10% on the gross amount of dividends received.

    3. If you're a non-resident alien engaged in trade or business in the Philippines and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 20% on the gross amount of dividends received.

    4. If you're a non-resident alien not engaged in trade or business in the Philippines and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 25% on the gross amount of dividends received.

    5. Cash and property dividends received by a domestic or resident foreign corporation are not subject to tax.

    6. Cash and property dividends received from a domestic corporation by a non-resident foreign corporation are subject to final withholding tax of 35%. The 35% rate for dividends paid to a non-resident foreign corporation may be reduced to 15% subject to the conditions that the country in which the non-resident foreign corporation is domiciled allows a credit against the tax due from the non-resident foreign corporation, taxes deemed to have been paid in the Philippines equivalent to 20%, which represents the difference between the regular tax on corporations and the reduced tax on dividends.

    7. In the case of a foreign corporation or an individual who is a resident of a treaty country, the applicable tax rate on dividends under the treaty shall apply.

    8. Stock dividends distributed pro rata among stockholders of the same class are not subject to Philippine income tax but shall be subject to a documentary stamp tax on the original issue of the share at the rate of P2.00 for every P200.00 or a fraction thereof based on the par value of the share, which is paid for by the corporation declaring the stock dividend.

    9. Preferential tax rate/ tax relief for non-resident clients.
    If there is an existing tax treaty between the Philippines and the country where the other party to the transaction resides, the applicable preferential tax rates under the treaty shall apply. Conversely, in the absence of such treaty, the ordinary rates under Philippine tax laws particularly the Philippine Tax Code of 1997 shall apply. Any availment of the tax treaty relief shall be preceded by an application covered by BIR Form No. 0901 ("Application for Relief from Double Taxation"). The application shall be filed at least fifteen (15) days before the proposed transaction. It shall be accompanied by supporting documents justifying the relief.

  14. #194
    Quote Originally Posted by Ducati_Diavel View Post
    What can you say about this?

    If you're a resident alien and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 10% on the gross amount of dividends received.

    But

    If you're a non-resident alien engaged in trade or business in the Philippines and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 20% on the gross amount of dividends received.

    Also

    If you're a non-resident alien not engaged in trade or business in the Philippines and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 25% on the gross amount of dividends received.

    So, it's not straight 10% right?
    Good for you, that you read the tax code. The writing style is quite legalistic and confusing and turns off many non-lawyers.

    Fortunately, the people behind the AB Capital website also read the tax code, and paraphrase the same to make things understandable. In fact, they use the exact same words as in your post!


  15. #195
    Quote Originally Posted by KuyaDanny View Post
    Good for you, that you read the tax code. The writing style is quite legalistic and confusing and turns off many non-lawyers.

    Fortunately, the people behind the AB Capital website also read the tax code, and paraphrase the same to make things understandable.In fact, they use the exact same words as in your post!

    http://i.imgur.com/ldijBEZ.jpg
    Yes that's correct that's the same word and definition written exactly on the tax code. I don't see any problem pasting the fees, rates, and commission of AB Capital. Because it's the same laws written on the tax code.

    Good Job.

    I'm also doing my own research here, I don't depend on one source.

    At least everyone knows that not all dividends are not straight 10%.
    Last edited by Ducati_Diavel; Feb 5, 2013 at 02:15 PM.

  16. #196
    Quote Originally Posted by cash_or_credit View Post
    Col will credit your account with the diviends after 1 or 2 days after the ex date of dividends ordependson the clearing of the cheque. Col will also gave you reminder posted on the homepage after log in on what date shall the dividend will credit in youraccount and you can also see it on your account summary of transactions tag as DIV and of course less 20% final tax.
    Tama ang 20% final tax na sinabi mo, hindi lang natin na define kung saan applicable ang 20% final tax.

    If you're a non-resident alien engaged in trade or business in the Philippines and you received cash or property dividend from a domestic corporation, you are subject to a final withholding tax of 20% on the gross amount of dividends received.

    Pareho lang ito sa libro na nabasa ko sa Tax Rate, at sa website ng BIR.

    Here's the link, look for SEC. 25. Tax on Nonresident Alien Individual.

    http://www.bir.gov.ph/taxcode/1577.htm
    Last edited by Ducati_Diavel; Feb 5, 2013 at 04:11 PM.

  17. #197
    I've done a fees, vat, and commissions comparison for AB Capital and COL and here's the results:



    Almost same lang sila sa rates.
    Last edited by Ducati_Diavel; Feb 6, 2013 at 01:43 PM.

  18. #198
    My batotoy is bibo!=p BatotoyBibo's Avatar
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    Thanks for the fees comparison Ducati. I have plans to open an account with ABC pa naman pero mas mahal pala. I did try their trial account pero mas maganda pa rin colfinancial IMO.

  19. #199
    Quote Originally Posted by Ducati_Diavel View Post
    I've done a fees, vat, and commissions comparison for AB Capital and COL and here's the results:

    http://s7.postimage.org/3tl6wn99n/Fees.png

    Nagkaiba lang sa Stock Transaction Tax and Sales Tax sa sell side mas mataas kay AB Capital at 0.5% compared to COL at 0.005%.

    nice comparison. pero diba ang "0.005" ng COL at "0.5%" ng AB Capital ay pareho lang? If you will multiply the gross sell amount by 0.5%, you will have to transpose the decimal point two places to the left to get rid of the percent sign. =)

  20. #200
    Quote Originally Posted by pisomatters View Post
    nice comparison. pero diba ang "0.005" ng COL at "0.5%" ng AB Capital ay pareho lang? If you will multiply the gross sell amount by 0.5%, you will have to transpose the decimal point two places to the left to get rid of the percent sign. =)
    Oo, nga pala tama ka pisomatters same lang pala, naduling ata ako dun naka convert na pala into decimal yung sa COL.

    Yung sa AB CAP naka percentage pa.

    Thanks for the correction.

    So, same lang pala sila sa fees, commissions, and VAT.

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