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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.
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 ".
1984 and 1985 saw the worst recession in Philippine history, with the economy contracting by 7.3% for two successive years. [1] Data from the Philippine Statistics Authority for 1985 showed that poverty incidence in families was at 44.2%—4.3 percentage points higher than in 1991 during the presidency of Corazon Aquino.
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 ...
This is a timeline of Philippine history, comprising important legal and territorial changes and political events in the Philippines and its predecessor states. To read about the background to these events, see history of the Philippines .
The history of the Philippines dates from the earliest hominin activity in the archipelago at least by 709,000 years ago. [1] Homo luzonensis, a species of archaic humans, was present on the island of Luzon [2] [3] at least by 134,000 years ago. [4] The earliest known anatomically modern human was from Tabon Caves in Palawan dating about 47,000 ...
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The history of the Philippines from 1565 to 1898 is known as the Spanish colonial period, during which the Philippine Islands were ruled as the Captaincy General of the Philippines within the Spanish East Indies, initially under the Viceroyalty of New Spain, based in Mexico City, until the independence of the Mexican Empire from Spain in 1821.