Search results
Results From The WOW.Com Content Network
However, if their gross sales (or gross receipts plus other non-operating income) does not exceed the VAT threshold, they have the option to be taxed either on the basis of the income tax schedule for individuals and the applicable percentage taxes, or just with a flat tax rate of 8% on their gross sales (or gross receipts plus other non ...
In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there were improvements in the last few years of the first decade of the 21st century. [2] The Philippine government's main source of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and ...
The taxes imposed by the Code include a graduated income tax on all income earned by natural and juridical persons within the Philippines, a capital gains tax, excise tax on certain products, a Donor's Tax, an estate tax, and a value-added tax on the sale of most goods and services in the Philippines. Real property taxes are considered as local ...
Direct tax is a tax paid by a person, as opposed to a tax levied on a business that the person indirectly pays. Double taxation is when a tax is paid twice on the same income or item. Indirect tax is a tax collected by an intermediary (such as a store) on behalf of the person who actually is required to pay (such as a customer)
The Department of Finance (DOF; Filipino: Kagawaran ng Pananalapi) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public ...
If you are unfamiliar with taxes, here is a list of all of the taxes most citizens in America have to pay at some point
The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
Letting slip a 1-0 lead and securing only a draw dealt a blow to Arsenal’s Premier League title hopes as the Gunners now sit five points behind league leader Liverpool, which has two games in hand.