Philippines - Taxes on income, profits and capital gains (% of revenue)

Taxes on income, profits and capital gains (% of revenue) in Philippines was 37.13 as of 2019. Its highest value over the past 29 years was 42.08 in 2012, while its lowest value was 27.93 in 1990.

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.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1990 27.93
1991 28.06
1992 29.06
1993 28.91
1994 30.00
1995 32.85
1996 33.69
1997 35.50
1998 39.74
1999 38.80
2000 39.09
2001 39.00
2002 39.03
2003 38.22
2004 39.24
2005 39.64
2006 38.65
2007 40.75
2008 41.12
2009 38.77
2010 40.50
2011 42.07
2012 42.08
2013 41.93
2014 41.16
2015 41.34
2016 41.95
2017 41.47
2018 36.53
2019 37.13

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance