Taxes on income, profits and capital gains in Philippines
Philippines: Taxes on income, profits and capital gains was 34.7% in 2024. ▲ Rising
Taxes on income, profits and capital gains in Philippines, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
The most recent figure for taxes on income, profits and capital gains in Philippines is 34.7%, measured in 2024.
Compared with earlier readings it is down 5.5% on the previous year and down 15.7% over ten years.
Over the whole period, taxes on income, profits and capital gains in Philippines peaked at 42.1% in 2012 and was at its lowest, 27.9%, in 1990.
Philippines ranks 30th of 153 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 35 years of available data.
Taxes on income, profits and capital gains in Philippines, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1990 | 27.9% | — |
| 1991 | 28.1% | +0.4% |
| 1992 | 29.1% | +3.6% |
| 1993 | 28.9% | -0.5% |
| 1994 | 30.0% | +3.8% |
| 1995 | 32.9% | +9.5% |
| 1996 | 33.7% | +2.5% |
| 1997 | 35.5% | +5.4% |
| 1998 | 39.7% | +11.9% |
| 1999 | 38.8% | -2.4% |
| 2000 | 39.1% | +0.7% |
| 2001 | 39.0% | -0.2% |
| 2002 | 39.0% | +0.1% |
| 2003 | 38.2% | -2.1% |
| 2004 | 39.2% | +2.7% |
| 2005 | 39.6% | +1.0% |
| 2006 | 38.6% | -2.5% |
| 2007 | 40.8% | +5.5% |
| 2008 | 41.1% | +0.9% |
| 2009 | 38.8% | -5.7% |
| 2010 | 40.5% | +4.5% |
| 2011 | 42.1% | +3.9% |
| 2012 | 42.1% | +0.0% |
| 2013 | 41.9% | -0.4% |
| 2014 | 41.2% | -1.8% |
| 2015 | 41.3% | +0.4% |
| 2016 | 42.0% | +1.5% |
| 2017 | 41.5% | -1.2% |
| 2018 | 36.5% | -11.9% |
| 2019 | 37.1% | +1.7% |
| 2020 | 36.6% | -1.4% |
| 2021 | 35.2% | -3.9% |
| 2022 | 34.9% | -0.8% |
| 2023 | 36.7% | +5.2% |
| 2024 | 34.7% | -5.5% |
Philippines compared with similar countries
- Philippines's 34.7% is above the median for upper middle income countries, which is 22.7%, 1.5× the median. (48 countries reporting)
- Philippines's 34.7% is above the median for East Asia & Pacific, which is 22.7%, 1.5× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 32.5% | 27.9% | 39.7% | 10 |
| 2000s | 39.4% | 38.2% | 41.1% | 10 |
| 2010s | 40.6% | 36.5% | 42.1% | 10 |
| 2020s | 35.6% | 34.7% | 36.7% | 5 |
Countries ranked near Philippines
More public sector data for Philippines
- Arms imports 238.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 2.05 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 90.4 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 238.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 52.81 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0133 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 18.96 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 6.12 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 419.22 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is taxes on income, profits and capital gains in Philippines?
- Taxes on income, profits and capital gains in Philippines was 34.7% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Philippines?
- The highest recorded value was 42.1% in 2012.
- What is the lowest taxes on income, profits and capital gains recorded in Philippines?
- The lowest recorded value was 27.9% in 1990.
- How does Philippines rank for taxes on income, profits and capital gains?
- Philippines ranks 30th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Philippines?
- Over the last ten years it is down 15.7%. The long-run trend across the full record is rising.
- Where does this Philippines data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.