More than P400,000.00
1.3%
The rate of two and seven tenths percent (2.7%) per annum shall be imposed on sales not exceeding Four Hundred Thousand Pesos (P 400,000.00) while the rate of one and three tenths percent (1.3%) per annum shall be imposed on sales in excess of the first Four Hundred Thousand Pesos (P400,000.00). However, barangays shall have the exclusive power to levy taxes on stores whose gross sales or receipts of the preceding calendar year does not exceed Thirty Thousand Pesos (P 30,000.00) subject to existing laws and regulations. (e) On contractors and other independent contractors in accordance with the following schedule.
Amount of Gross Sales/Receipts For the Preceding Calendar Year
Less than 5,000.00
5,000.00 or more but less than 10,000.00
10,000.00 or more but less than 15,000.00
15,000.00 or more but less than 20,000.00
20,000.00 or more but less than 30,000.00
30,000.00 or more but less than 40,000.00
40,000.00 or more but less than 50,000.00
50,000.00 or more but less than 75,000.00
75,000.00 or more but less than 100,000.00
100,000.00 or more but less than 150,000.00
150,000.00 or more but less than 200,000.00
200,000.00 or more but less than 250,000.00
250,000.00 or more but less than 300,000.00
300,000.00 or more but less than 400,000.00
400,000.00 or more but less than 500,000.00
500,000.00 or more but less than 750,000.00
750,000.00 or more but less than 1,000,000.00
1,000,000.00 or more but less than 2,000,000.00
2,000,000.00 or more
Amount of Tax per Annum
38.50
86.24
146.30
231.00
385.00
539.00
770.00
1,232.00
1,848.00
2,772.00
3,696.00
5,082.00
6,468.00
8,624.00
11,550.00
12,950.00
14,350.00
16,100.00
at a rate of seventy percent (70%) of one percent (1%)
Provided, that in no case shall the tax on gross sales of P 2,000,000.00 or more be less than P 16,100.00.
For purposes of this section, the tax on multi-year projects undertaken general engineering, general building, and specialty contractors shall initially be based on the total contract price, payable in equal annual instalments within the project term.
Upon completion of the project, the taxes shall be recomputed on the basis of the gross receipts for the preceding calendar years and the deficiency tax, if there be any, shall be collected as provided in this Code or the excess tax payment shall be refunded.
Municipal Revenue Code 2022 of the Municipality of Bolinao
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