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The policy of taxation in the Philippines is governed chiefly by the Constitution of the Philippines and three Republic Acts. Constitution: Article VI, Section 28 of the Constitution states that "the rule of taxation shall be uniform and equitable" and that " Congress shall evolve a progressive system of taxation ".
Flat tax of 8% on gross sales or gross revenues in lieu of percentage tax and personal income tax. [25] "TRAIN aims to clean up the VAT system to make it fairer and simpler and lower the cost of compliance for both the taxpayers and tax administrators". [25] As such, VAT exemptions are now only limited to health, education and raw agriculture food.
A comparative graph of Revenue and Tax Effort from 2001 to 2010 [3] A comparative graph of Tax and Non-Tax Revenue contribution from 2001 to 2010 [4]. The Philippine government generates revenues mainly through personal and income tax collection, but a small portion of non-tax revenue is also collected through fees and licenses, privatization proceeds and income from other government ...
Stay updated on the news about taxes, deadlines, deductions, laws, the IRS, and all things related to your income taxes. ... Jeff Bezos Cut His Tax Bill by $1 Billion — 2 Lessons for Everyday ...
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Pages in category "Taxation in the Philippines" The following 4 pages are in this category, out of 4 total. This list may not reflect recent changes. ...
This was undertaken through the implementation of change initiatives that were directed to: 1) reform the tax system to make it simpler and suit the Philippine culture; 2) reengineer the tax processes to make them simpler, more efficient and transparent; 3) restructure the BIR to give it financial and administrative flexibility; and 4) redesign ...
March 25 – The Court of Tax Appeals releases a March 21 decision dismissing a ₱44.7-million tax evasion case against Janet Lim-Napoles, citing insufficient evidence. [ 72 ] March 26 – April 5 – A state of calamity is declared in Iloilo City , Cavite and Santa Rosa, Laguna due to outbreaks of whooping cough .