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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 ...
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. Taxes imposed at the national level are collected by the Bureau of Internal Revenue (BIR ...
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 ...
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 ...
Cities are classified under the Local Government Code of 1991 (Republic Act No. 7160) into three categories: highly urbanized cities, independent component cities, and component cities. Cities are governed by their own municipal charters in addition to the Local Government Code of 1991, which specifies their administrative structure and powers.
Amending the National Internal Revenue Code of 1997 or RA 8424: Granting Tax Exemption to Local Water Districts: 2010-03-13: 10027: Radio, Television, and Satellite Broadcasting Franchise: Aurora Technological Institute, Inc 2010-03-16: 10028: Amending the Rooming-in and Breastfeeding Act of 1992 or RA 7600: Expanded Breastfeeding promotion Act ...
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After a while the independent Republic of the Philippines was declared in 1946, all municipal districts were dissolved and were absorbed into or broken into municipalities. [16] The latest guidelines in the creation of new municipalities were introduced in 1991 with the issuance of the Local Government Code. [17]