Living in The Philippines > RA 9225, Citizenship Retention and Re-acquisition

Tax Implications for dual national retiring in the Philippines

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Minibrings:
Does the Philippines tax retirement income earned in the US (pension, SSN, interest/dividend income) once the dual national is living in country?
Trying to figure out what kind of hit this would be, if so.

Minibrings:
Mea culpa.. they do.. I just found the site.
Ignore please.

something to consider for those considering having dual citizenship

Tally J:
Would you be so kind as to provide the site?  Thank you

Art, just a re(tired) Fil-Am:

--- Quote from: Minibrings on April 20, 2017, 05:50:15 AM ---Mea culpa.. they do.. I just found the site.
Ignore please.
something to consider for those considering having dual citizenship

--- End quote ---
My wife is a dual citizen, but she doesn't or hasn't earned any income retirement for the Philippine government to tax her on, maybe unless I'm no longer around and she is receiving her SBP.
So, what site have you found that dual citizens are taxed by the Philippine government?

Art, just a re(tired) Fil-Am:

--- Quote from: Art, just a re(tired) Fil-Am on April 20, 2017, 07:07:31 AM ---My wife is a dual citizen, but she doesn't or hasn't earned any income retirement for the Philippine government to tax her on, maybe unless I'm no longer around and she is receiving her SBP.
So, what site have you found that dual citizens are taxed by the Philippine government?

--- End quote ---
I believe that double taxation laws for dual citizens pertains to which country the income came from, hence no double taxation if residing in the Philippines and not earning income in the Philippines.

To answer your and my own question, found my own answer (see link)
http://tinyurl.com/mte3j26

As to taxes to be paid, he shall be subject to the rules of income tax under Section 23 of the National Internal Revenue Code (NIRC) which provides that “except when otherwise provided in this Code (NIRC): (a) a citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; (b) a nonresident citizen is taxable only on income derived from sources within the Philippines; xxx. Accordingly, the Philippine government shall only tax you if you have income in the Philippines. Income under the NIRC means all income derived from whatever source. However, you don’t have to worry about the pension you are receiving from the US government being a veteran because this pension is expressly exempted by the NIRC from taxation. It is stated under Section 32 (B)(6) of the NIRC that “the following items shall not be included in gross income and shall be exempt from taxation under this title: Xxx (d) payments of benefits due or to become due to any person residing in the Philippines under the laws of the United States administered by the United States Veterans Administration”.

It also pertains to me, a U.S. citizen (not a dual citizen) with pensions from the U.S., are also tax exempted by the Philippine government, but only taxed by the U.S. government.

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