Search results
Results From The WOW.Com Content Network
The most recent extensive revision of the Code occurred in 1997, although the Code was amended in 2005 to expand the coverage and rates of value-added tax. 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 ...
Through this program, the richer tax payers of the Philippines will pay a greater contribution to enable the government to execute its programs and services targeted to the general improvement of the country, especially the less fortunate. [24] [25] There are six main key provisions, three additional excise taxes, and four financial taxes. [26]
Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
The Omnibus Election Code bans persons or organizations who hold contracts with the government from contributing to candidates' election campaigns. In addition, under Comelec Resolution No. 10772 and the Corporation Code of the Philippines, corporations are allowed to make campaign donations of up to 5% of its taxable income. [15]
According to Article IX-C, Section 2 of the 1987 Constitution of the Philippines, the Commission on Elections (COMELEC) shall exercise the following powers and functions: [3] Enforce and administer all laws and regulations relative to the conduct of an election, plebiscite, initiative, referendum, and recall.
The 2007 Philippine House of Representatives elections were held on May 14, 2007, to elect members to the House of Representatives of the Philippines to serve in the 14th Congress of the Philippines from June 30, 2007, until June 30, 2010. The Philippines uses parallel voting for seats in the House of Representatives.
Barangay elections were supposedly to be held in October 2016 to end the election cycle, but were postponed by Congress to October 2017. The officials elected in 2013 will continue to serve up to 2017. [3] By March 2017, Congress then postponed the election anew, this time to May 2018. [4]
Elections for the House of Representatives of the Philippines were held on May 8, 1995. Being the first midterm election since 1938, the party of the incumbent president, Fidel V. Ramos's Lakas-NUCD-UMDP, won a plurality of the seats in the House of Representatives. [1] The elected representatives served in the 10th Congress from 1995 to 1998.