Crypto tax in Philippines
How is cryptocurrency taxed in the Philippines?
Cryptocurrency is taxed as income in the Philippines. The headline rate is 35%, and there is no long-term exemption.
Common questions
- What is the tax classification for crypto in the Philippines?
- In the Philippines, cryptocurrency is classified and taxed as income.
- Is there a long-term exemption for crypto gains in the Philippines?
- No, the Philippines does not offer a long-term exemption for cryptocurrency gains.
- What is the headline tax rate for crypto income in the Philippines?
- The headline tax rate for cryptocurrency income in the Philippines is 35%.
Crypto in Philippines is taxed as ordinary income.
Treatment
taxed as ordinary income
Long-term
Still taxed
Headline rate
35%
For an individual relocating to the Philippines, gains from disposing of cryptocurrency are generally treated as part of your taxable income and can be taxed at progressive rates up to 35%, with no exemption for long-term holdings.
“Under the Philippine Tax Code, gross income means all income derived from whatever source, including (but not limited to) compensation for services, gross income derived from the conduct of trade or business or the exercise of a profession, gains derived from dealings in property, interests, rents, royalties, dividends, annuities, prizes and winnings. All such income of individuals, unless otherwise exempt, is subject to the graduated income tax rates of up to thirty‑five percent (35%) under Section 24(A) of the Tax Code.” — Bureau of Internal Revenue (BIR), Philippines
Reflects the treatment of an individual's crypto disposals. Estimate — confirm against the linked source. See methodology.