"The Philippine Bureau of Internal Revenue (BIR) has not yet issued clear guidelines on the tax treatment of bitcoin transactions. However, it is clearly written in the internal revenue laws that any type of income earned by a Filipino citizen shall be taxed unless expressly exempted.
Given the government’s ambitious infrastructure program that requires massive funding, the BIR may sooner or later run after taxpayers who made money from bitcoin-related activities. This may cover profit generated from bitcoin speculation and mining. The BIR may also require local bitcoin exchanges to provide the information about their users just like what the IRS did in the US.
The tax that may potentially be collected by the BIR depends on how it will classify bitcoins. If bitcoins are classified as properties, then capital gains tax may be imposed on bitcoin transactions. If bitcoin transactions are taxed similarly as stocks, a fixed percentage tax may also be imposed. Income from bitcoin (or other cryptocurrency) mining can also be subject to regular income tax and other business taxes.
Just like the IRS, the BIR must find ways to monitor bitcoin-related transactions and they can do so with the help of local bitcoin exchanges. Legal challenges would undoubtedly happen. Given the backlog in the local courts, it may take time before we see a resolution on how bitcoin and other cryptocurrency transactions will be taxed."
SOURCE:
https://cryptocurrencynews.ph/2017/12/04/are-bitcoin-transactions-taxable-in-the-philippines/