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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 ...
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.
As a result of the 1986 tax reform program, average tax effort rose to 13.1 percent during the Aquino administration (1986–1992) and to 16.2 percent during the Ramos administration (1993–1998). Revenue effort rose steadily until the next round of tax reforms. Tax effort increased from 10.7% in 1985 to 15.4% in 1992, then peaked at 17.0% in ...
To strictly enforce the payment of taxes and to further discourage tax evasion, RA No. 233 or the Rewards Law was passed on June 19, 1959 whereby informers were rewarded the 25% equivalent of the revenue collected from the tax evader. In 1964, the Philippines was re-divided anew into 15 regions and 72 inspection districts.
The history of the community tax certificate entails three incarnations dating back to Spanish colonial times. Introduced in a 19th-century reform of the tax system which followed the Revolt Against the Tribute of 1589 which scrapped the system of tribute, as well as subsequent tax reforms, the cédula was issued to all indios or natives between the ages of 18 and 60 upon payment of a ...
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The Sangguniang Panlungsod (SP) is the local legislative body of a city government in the Philippines. [1] The name of the legislative body comes from the Filipino words "sanggunian" ("council") – ultimately from the root word "sangguni" ("to consult") – both of Tagalog origins, with the latter word also of Kapampangan and Old Tagalog origins, and "lungsod" ("city") of both Tagalog ...
The Taguig City Council (Filipino: Sangguniang Panlungsod ng Tagig) is the legislature of Taguig, Philippines.The legislative body is composed of 18 councilors, with 16 councilors elected from Taguig's two councilor districts (coextensive with the Legislative districts of Taguig and Taguig–Pateros, excluding the municipality of Pateros) [1] and two elected from the ranks of barangay ...