Quick answer
The Philippines has no crypto-specific tax law in 2026. Gains and crypto income fall under the ordinary income tax: graduated rates of 0–35%, with the first PHP 250,000 taxed at 0%. Self-employed people paid in crypto can elect 8% on gross receipts above PHP 250,000 if receipts stay within PHP 3,000,000. Long-held capital assets may count at 50%.
Last reviewed: November 2026 · Reviewed by Stéphane Gombauld, tax expert, technologist and digital nomad
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Find my savings →You hold or trade crypto while living in the Philippines, or foreign clients pay you in USDT. This guide explains how the general tax code applies to crypto in 2026, which rate you really pay and where the law is still unclear.
Philippines cryptocurrency taxes in 2026: the key figures
| Item | 2026 rule | Legal basis |
|---|---|---|
| Crypto-specific tax provision | None; ordinary income tax rules apply | NIRC (National Internal Revenue Code); RA 12214 adds none |
| Gains and crypto income of individuals | Graduated rates, 0% up to PHP 250,000, 35% above PHP 8,000,000 | Sec. 24(A)(2)(a), as amended by RA 10963 |
| Self-employed paid in crypto | Optional 8% on gross receipts above PHP 250,000, in lieu of graduated rates and percentage tax | Sec. 24(A)(2)(b) |
| Ceiling for the 8% option and VAT exemption | Gross receipts not exceeding PHP 3,000,000 | Sec. 109(BB) |
| Capital assets held more than 12 months | 50% of the gain taken into account; otherwise 100% | Sec. 39(B) NIRC |
| Capital losses | Allowed only to the extent of capital gains | Sec. 39(C), as amended by RA 12214 |
| Who is taxed on worldwide crypto gains | Resident citizens only; aliens on Philippine-source income | Sec. 23 NIRC |
| Gifts of crypto | Donor's tax of 6% on gifts above PHP 250,000 per calendar year | Sec. 99, as amended by RA 10963 |
What changed for 2026
- Nothing crypto-specific. The Capital Markets Efficiency Promotion Act (RA 12214), approved 29 May 2025, rewrote the tax on shares, interest and documentary stamps. It contains no provision on digital assets.
- The capital-loss rule was restated by Section 11 of RA 12214, which amends Sec. 39: losses on capital assets are "allowed only to the extent of the gains" from such sales.
- Since 1 July 2025, interest on Philippine deposits bears a single 20% final tax. That matters if you park crypto proceeds in a peso account.
- The individual rate schedule effective 1 January 2023 onwards, set by RA 10963, still applies in 2026.
Is this guide for you?
Read on if you…
- live in the Philippines and buy, sell or swap crypto, even occasionally;
- are a freelancer or remote worker paid in stablecoins or Bitcoin;
- stake, lend, mine or earn play-to-earn tokens.
Probably not your case if you…
- only hold coins bought years ago and did not sell, swap or earn anything in 2026;
- are a foreigner passing through for a few weeks with no Philippine income.
How does the Philippines tax crypto in 2026?
There is no crypto chapter in the NIRC. The ordinary rules apply: gains from dealings in property and income from services are taxable unless an exemption applies. We found no BIR regulation in force that sets crypto-specific rates or methods. Treat everything below as the Code applied by analogy.
Who is taxed, and on what?
Your taxpayer category decides the scope, under Sec. 23 NIRC:
- Resident citizens are taxed on income "from sources within and without the Philippines". A gain on a Malta-based exchange counts.
- Non-resident citizens and aliens, resident or not, are taxed only on Philippine-source income.
- Non-resident aliens not engaged in trade or business pay a 25% final tax on gross Philippine-source income (Sec. 25(B)).
Here's the catch for foreigners. The Code has no rule on where a crypto trade is "sourced". A trade clicked from a laptop in Cebu on an offshore exchange could be argued either way. Nothing we verified settles it, so document where you were when you traded.
More on categories in the guide to obtaining tax residency in the Philippines.
Which events are taxable?
| Event | Likely treatment under the ordinary rules |
|---|---|
| Selling crypto for pesos or dollars | Gain = proceeds minus cost, taxable |
| Swapping one coin for another | Disposal of the first coin; gain at peso value |
| Spending crypto on goods or services | Disposal at market value |
| Being paid in crypto for work | Compensation or business income at peso value on receipt |
| Mining, staking, lending rewards | Income at peso value on receipt; later sale taxed on the difference |
| Airdrops | Income when you control a token with a market value |
| Moving coins between your own wallets | No disposal, no tax |
| Giving crypto away | Donor's tax of 6% above PHP 250,000 a year, paid by the giver |
Swaps and airdrops are not addressed by any specific text. The treatment shown follows the general concept of a disposal for value.
How much do you really pay?
Investor: capital asset rules
If you hold crypto as an investment, not as stock in trade, it is arguably a capital asset: property you do not sell in the ordinary course of business. For individuals, the holding-period rule of Sec. 39 takes into account only 50% of the gain on capital assets held more than 12 months, and 100% otherwise (PwC summary, secondary).
The taxable part joins your other income at the 2026 graduated rates:
| Taxable income (PHP) | Tax |
|---|---|
| Up to 250,000 | 0% |
| 250,001 – 400,000 | 15% of the excess over 250,000 |
| 400,001 – 800,000 | 22,500 + 20% of the excess over 400,000 |
| 800,001 – 2,000,000 | 102,500 + 25% of the excess over 800,000 |
| 2,000,001 – 8,000,000 | 402,500 + 30% of the excess over 2,000,000 |
| Over 8,000,000 | 2,202,500 + 35% of the excess over 8,000,000 |
Capital losses offset only capital gains, under Sec. 39(C) as amended. A loss on a coin cannot reduce your salary or freelance income.
Note that the flat 15% rate in Sec. 24(B)(3) applies to shares of stock, not crypto. A token is not a share.
Freelancer paid in crypto: the 8% option
If clients pay you in crypto, you are self-employed and the crypto is business income at its peso value. Sec. 24(A)(2)(b) of the TRAIN law lets you elect 8% on gross receipts above PHP 250,000. It replaces graduated rates and percentage tax. The ceiling is PHP 3,000,000 of gross receipts, the VAT threshold of Sec. 109(BB).
For most crypto-paid freelancers with low costs, 8% wins. The option sits in Sec. 24(A), which covers citizens and resident aliens.
Active trader
If trading is your business, coins become ordinary assets and profits are business income at graduated rates. Whether "gross receipts" for the 8% option means sales proceeds or net gain is not settled for crypto. A high-volume trader is likely to exceed PHP 3,000,000 of proceeds fast, so plan on graduated rates.
How do you report crypto to the BIR?
- Keep a peso ledger. Convert every acquisition and disposal to pesos on the day, with the exchange rate used. Keep exchange statements and wallet exports.
- Classify each holding as investment (capital asset) or trading stock, and stay consistent year to year.
- Pick a cost method and keep it. The Code prescribes none for crypto. First-in, first-out applied consistently is the defensible default.
- File your annual return on or before 15 April of the following year (Sec. 51). Self-employed people also file quarterly. Under RA 11976 you can file with any authorized agent bank, a Revenue District Office or an authorized tax software provider.
- Pay in two instalments if eligible. Tax due above PHP 2,000 can be split, with the second half due 15 October (PwC, secondary).
On automatic exchange of crypto data under the OECD Crypto-Asset Reporting Framework, we could not confirm a Philippine commitment date on an official page. Plan as if your exchange history can reach the BIR. Resident citizens owe tax on worldwide gains whether or not data is exchanged.
How can you pay less, legally?
- Use the 0% band. The first PHP 250,000 of taxable income is taxed at 0%.
- Hold investments more than 12 months. If the capital-asset reading holds, only half the gain is taxable.
- Realise losses in the same year as gains. Capital losses only offset capital gains.
- Elect 8% on crypto-paid fees while receipts stay within PHP 3,000,000.
- Time a big disposal around a move. The Philippines has no exit tax. See ceasing your tax residency in the Philippines, and check the new country's rules first.
For regional comparison, read cryptocurrency taxes in Hong Kong and cryptocurrency taxes in Sri Lanka.
Example – Paolo, 38, resident Filipino investor
Paolo has no other income in 2026. He sells 1 BTC bought in 2023 for PHP 1,500,000, now worth PHP 5,500,000. Gain: PHP 4,000,000. Held more than 12 months, so 50% counts: PHP 2,000,000. Tax: 102,500 + 25% × 1,200,000 = PHP 402,500, or 10.1% of the gain. Had he sold within 12 months, taxable income would be PHP 4,000,000: 402,500 + 30% × 2,000,000 = PHP 1,002,500. Waiting saved PHP 600,000. He keeps his exchange statements and peso ledger in case the BIR questions the capital-asset label.
Paolo's sale turned on two rules: the holding period and the capital-asset label. Yours probably does too.
Find out how the Philippine rules apply to your own crypto position.
Find my savings →Common mistakes (and what they cost)
- Treating swaps as non-events. A coin-to-coin trade is, on the general rules, a disposal. If assessed, unpaid tax carries a 25% surcharge under Sec. 248, or 10% for micro and small taxpayers, plus interest.
- Not registering when paid in crypto. Without registration you cannot elect 8%, and the gap between 8% and graduated tax quickly reaches six figures.
- Mixing investment and trading wallets. It weakens the capital-asset argument and with it the 50% rule on long-held coins.
- No peso ledger. The BIR assesses in pesos. Without records of cost, you cannot prove your basis.
- Assuming offshore exchanges are invisible. Resident citizens are taxed on worldwide gains, and exchanges keep identity records.
Frequently asked questions
Is cryptocurrency taxed in the Philippines?
Yes, under the ordinary income tax rules. There is no crypto-specific law in 2026, and RA 12214 added none. Gains and crypto income are taxed at graduated rates of 0–35%, with the first PHP 250,000 at 0%. Self-employed people paid in crypto can elect 8% on gross receipts above PHP 250,000, within a PHP 3,000,000 ceiling.
Is there capital gains tax on crypto in the Philippines?
Not the flat 15% that applies to unlisted shares or the 6% on real property. Crypto gains are added to your income at graduated rates. If a coin is a capital asset held more than 12 months, only 50% of the gain counts under the Sec. 39 holding-period rule. Capital losses offset only capital gains.
Do I pay tax when I swap Bitcoin for Ethereum?
On the general rules, yes. A swap disposes of the Bitcoin at its peso value on the day, and the difference from your cost is a gain. No specific Philippine text covers swaps, so this is the cautious reading. The Ethereum then takes the swap value as its cost. Moving coins between your own wallets is not a disposal.
How is crypto salary or freelance income taxed?
As ordinary compensation or business income at its peso value on receipt. Employees are taxed through the employer's payroll. Freelancers register with the BIR and can elect 8% on gross receipts above PHP 250,000 if receipts stay within PHP 3,000,000. A later rise in the coin's value is a separate gain when sold.
Are foreigners in the Philippines taxed on crypto gains?
Only on Philippine-source income, under Sec. 23(D). The Code has no source rule written for crypto, so a trade made from the Philippines on an offshore exchange sits in a grey zone. Resident citizens, by contrast, are taxed on worldwide gains. Keep records of where you were when you traded.
Related guides
- Capital gains tax in the Philippines
- Specific taxes in the Philippines
- Tax fraud regulations of the Philippines
- Tax landscape overview of the Philippines
- Cryptocurrency taxes in Hong Kong
- Cryptocurrency taxes in Sri Lanka
- All country tax guides
Sources
- National Internal Revenue Code of 1997 (RA 8424) – Congress of the Philippines, text via Lawphil
- RA 10963, TRAIN law – Congress of the Philippines, text via Lawphil
- RA 12214, Capital Markets Efficiency Promotion Act – Congress of the Philippines, text via Lawphil
- RA 11976, Ease of Paying Taxes Act – Congress of the Philippines, text via Lawphil
- Philippines – Individual income determination – PwC Worldwide Tax Summaries (secondary)
- Philippines – Individual tax administration – PwC Worldwide Tax Summaries (secondary)
This guide is general information, not personalised tax advice. See how we research and review.
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