Tax Tables

Use the following tax tables to answer your questions, where necessary.

Rates of tax from 2016/2017 tax years

Resident companies On taxable income

Standard rate 22%

Manufacturing company rate 15%

Non-resident companies

Standard rate 30%

Resident individuals

P0 P36,000 Nil

P36,001 P72,000 Nil + 5% of excess over 36 000

P72,001 P108,000 P1,800 + 125% of excess over 72 000

P108,001 P144,000 P6,300 + 1875% of excess over 108 000

Over P144,000 P13,050 + 25% of excess over 144 000

Non-resident individuals, trusts and estates

P0 P72,000 5% of every pula

P72,001 P108,000 P3,600 + 125% of excess over 72 000

P108,001 P144,000 P8,100 + 1875% of excess over 108 000

Over P144,000 P14,850 + 25% of excess over 144 000

Capital gains individuals

P0 P18,000 Nil

P18,001 P72,000 P0 + 5% of excess over 18 000

P72,000 P108,000 P2,700 + 12.5% of excess over 72 000

P108,000 P144,000 P7,200 + 18.75% of excess over 108 000

Over P144,000 P13,950 + 25% of excess over 120 000

Capital gains companies

Net aggregate gains are taxable at the company rates of tax.

Tax on Foreign dividend 15%

Basis of valuation of benefits

Individuals vehicle benefit

Vehicle cost		Employee benefit	Fuel cost adjustment
P1 - P50 000		P2 500	P1 000
P50 001 - P100 000		P5 000	P2 000
P100 001 - P150 000		P7 500	P3 000
P150 000 - P200 000		P10 000	P4 000

Benefit on the excess of P200 000 is 15% thereof with a maximum fuel cost adjustment of P5 000.

Individuals housing benefit:

If rated:

10% of the propertys rateable value prorated by occupation and reduced by any contribution made by the employee.

If not rated:

Gross floor area x P250 per sq metre x 8% for a standard building

The benefit is prorated by period of use and reduced by any contribution made by the employee.

Individuals furniture benefit

10% of furniture cost in excess of P15, 000 pro - rated by usage.

CAPITAL TRANSFER TAX RATES

Aggregate Taxable Value Rate of Tax per cent

1. Person (other company) First P100 000 2 per cent

Next P200 000 3 per cent

Next P200 000 4 per cent

Balance 5 per cent

2. Resident company 12.5 per cent

3. Non-resident company 12.5 per cent

Capital value of an annuity

Capital value = A x 1 (1/(1 + r) / r

Where - A is the annuity payable

r = rate of return

N = number of years over which the annuity is payable