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

Taxes on income, profits and capital gains (% of total taxes) in Philippines was 41.19 as of 2019. Its highest value over the past 29 years was 47.58 in 2011, while its lowest value was 32.50 in 1993.

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 32.54
1991 33.34
1992 33.53
1993 32.50
1994 33.87
1995 35.80
1996 37.06
1997 39.83
1998 43.96
1999 42.63
2000 44.05
2001 45.26
2002 44.62
2003 44.57
2004 45.98
2005 45.82
2006 43.84
2007 45.76
2008 45.96
2009 44.35
2010 44.73
2011 47.58
2012 47.21
2013 46.78
2014 45.66
2015 46.61
2016 46.52
2017 45.55
2018 40.35
2019 41.19

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.

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance