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

P$0$ P$36,000$ Nil

P$36,001$ P$72,000$ Nil $+5\%$ of excess over $36000$

P$72,001$ P$108,000$ P$1,800+125\%$ of excess over $72000$

P$108,001$ P$144,000$ P$6,300+1875\%$ of excess over $108000$

Over P$144,000$ P$13,050+25\%$ of excess over $144000$

Capital gains $$ individuals

P$0$ P$18,000$ Nil

P$18,001$ P$72,000$ P$0+5\%$ of excess over $18000$

P$72,000$ P$108,000$ P$2,700+12\mathrm{.}5\%$ of excess over $72000$

P$108,000$ P$144,000$ P$7,200+18\mathrm{.}75\%$ of excess over $108000$

Over P$144,000$ P$13,950+25\%$ of excess over $120000$

Capital gains $$ companies

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

Tax on Foreign dividend $15\%$

Basis of valuation of benefits

Value added tax $($VAT$)$ rate $12\%$

Individuals$$ vehicle benefit

Vehicle cost Employee benefit Fuel cost adjustment

P$1-$ P$50000$ P$2500$ P$1000$

P$50001-$ P$100000$ P$5000$ P$2000$

P$100001-$ P$150000$ P$7500$ P$3000$

P$150000-$ P$200000$ P$10000$ P$4000$

Benefit on the excess of P$200000$ is $15\%$ thereof with a maximum fuel cost adjustment of P$5000.$

Individual$$s housing benefit:

If rated:

$10\%$ of the property$$s rateable value prorated by occupation and reduced by any contribution made by the employee.

If not rated:

Gross floor area x P$250$ 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.

Individual$$s furniture benefit

$10\%$ of furniture cost in excess of P$15,000$ pro $-$ rated by usage.

Withholding tax rates

Residents Non$-$residents

Interest $($Note$)10\%15\%$

Dividends $7\mathrm{.}5\%7\mathrm{.}5\%$

Entertainment fee $10\%$

Management and consultancy fees $15\%$

Commercial royalty $15\%$

Rent $5\%5\%$

Commission or brokerage $10\%10\%$

Construction contracts $3\%3\%$

Note: Withholding tax on interest paid to residents is calculated at $10\%$ of interest paid to a resident in excess of P$1,950$ in a quarter of a year.

COST OF LIVING INDEX $$ JULY $1982=100$

$185\mathrm{.}076\mathrm{.}32\mathrm{.}4$

YEAR January February March April May June July August September October November December

$1982------100\mathrm{.}0101\mathrm{.}2101\mathrm{.}2102\mathrm{.}1103\mathrm{.}3103\mathrm{.}8$

$1983104\mathrm{.}1104\mathrm{.}8105\mathrm{.}5106\mathrm{.}6108\mathrm{.}3108\mathrm{.}4109\mathrm{.}0110\mathrm{.}2110\mathrm{.}2110\mathrm{.}7111\mathrm{.}7112\mathrm{.}3$

$1984113\mathrm{.}5114\mathrm{.}5115\mathrm{.}2116\mathrm{.}0116\mathrm{.}9118\mathrm{.}3119\mathrm{.}1120\mathrm{.}1119\mathrm{.}8120\mathrm{.}7119\mathrm{.}7119\mathrm{.}5$

$1985119\mathrm{.}9120\mathrm{.}7122\mathrm{.}0124\mathrm{.}1126\mathrm{.}6128\mathrm{.}6130\mathrm{.}1129\mathrm{.}8131\mathrm{.}1131\mathrm{.}5131\mathrm{.}8132\mathrm{.}0$

$1986133\mathrm{.}9135\mathrm{.}5135\mathrm{.}5136\mathrm{.}8138\mathrm{.}0140\mathrm{.}9141\mathrm{.}2141\mathrm{.}8142\mathrm{.}7143\mathrm{.}4144\mathrm{.}7146\mathrm{.}3$

$1987147\mathrm{.}4148\mathrm{.}5148\mathrm{.}9151\mathrm{.}9153\mathrm{.}6154\mathrm{.}1154\mathrm{.}9156\mathrm{.}6156\mathrm{.}7157\mathrm{.}1157\mathrm{.}5158\mathrm{.}1$

$1988157\mathrm{.}8158\mathrm{.}7160\mathrm{.}8163\mathrm{.}4164\mathrm{.}1165\mathrm{.}5168\mathrm{.}0169\mathrm{.}3171\mathrm{.}0172\mathrm{.}6173\mathrm{.}9174\mathrm{.}4$

$1989176\mathrm{.}9178\mathrm{.}0180\mathrm{.}1182\mathrm{.}7184\mathrm{.}1186\mathrm{.}2187\mathrm{.}3188\mathrm{.}7190\mathrm{.}2191\mathrm{.}1191\mathrm{.}5194\mathrm{.}2$

$1990196\mathrm{.}6199\mathrm{.}0200\mathrm{.}5204\mathrm{.}1205\mathrm{.}1206\mathrm{.}0207\mathrm{.}2209\mathrm{.}2210\mathrm{.}7212\mathrm{.}6216\mathrm{.}0217\mathrm{.}6$

$1991220\mathrm{.}5221\mathrm{.}4223\mathrm{.}5225\mathrm{.}8227\mathrm{.}3229\mathrm{.}0232\mathrm{.}0234\mathrm{.}2237\mathrm{.}2239\mathrm{.}5242\mathrm{.}5244\mathrm{.}9$

$1992248\mathrm{.}3251\mathrm{.}7256\mathrm{.}3262\mathrm{.}1265\mathrm{.}5269\mathrm{.}4272\mathrm{.}3275\mathrm{.}0277\mathrm{.}6280\mathrm{.}1283\mathrm{.}0285\mathrm{.}4$

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