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Local laws: major sources of revenue for the local government units (LGUs) are the taxes collected by virtue of Republic Act No. 7160 or the Local Government Code of 1991, [4] and those sourced from the proceeds collected by virtue of a local ordinance.
23% (first €8,500 per year is deductible); + municipal and local taxes (0-3%) 43% (+ municipal and local taxes (0-3%) 22% (standard rate) 10% (reduced rate on certain products - e.g. food - 4% (on products of first necessity) 26% Taxation in Italy Ivory Coast: 25% — — — Taxation in the Ivory Coast Jamaica: 33.3% (standard rate)
For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. [2] Tax revenue refers to compulsory transfers to the central government for public purposes.
Section 284 of the Local Government Code of the Philippines (RA 7160) sets up the formula for the distribution of the allotment. All or nearly all of the revenue that a local government has to spend comes from their IRA, though some local governments also have additional local sources of revenue such as property taxes and government fees ...
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 ...
The Bureau of Internal Revenue [2] (BIR; Filipino: Kawanihan ng Rentas Internas) is a revenue service for the Philippine government, which is responsible for collecting more than half of the total tax revenues of the government. It is an agency of the Department of Finance and it is led by a Commissioner.
The Local Government Code of 1991 provides for the three levels of Local Government Units or LGUs in the Philippines: (1) the province (2) city and municipality, and (3) the barangay. [15] The country remains a unitary state and the National Government continues to have strong influence over local government units.
Congress enacted the Local Government Code of the Philippines in 1991 to "provide for a more responsive and accountable local government structure instituted through a system of decentralization with effective mechanisms of recall, initiative, and referendum, allocate among the different local government units their powers, responsibilities ...