It has a good level of filtration, using the standard record pleated paper cartridge filter and paper filter over that too. It's the same system of filters that I think they still use on many models so a look at their specs on their site might give you more quantitative information. I would do that for you but tied up at the moment.
As mentioned, it takes 4" hose too, so usable for chip extraction although if large volumes like with a planer/thicknesser for example you probably would want a twin motor version or a low pressure high volume chip extractor. I've used this one on the bandsaw mainly, also on power tools and general workshop cleaning duty. Would prefer to keep it but a smaller workshop now means a few bits have to go !