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As such, VAT exemptions are now only limited to health, education and raw agriculture food. In 2019, medicines for hypertension, high cholesterol and diabetes will be exempted from VAT. Similarly, purchases from senior citizens and persons with disabilities. Housing that costs less than ₱2 million shall also be exempted starting in 2021.
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 ".
Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Tax exemption also refers to removal from taxation of a particular item rather than a deduction. International duty free shopping may be termed "tax-free shopping". In ...
The Good Building Design and Construction in the Philippines is a handbook developed in cooperation with the German Technical Cooperation (GTZ), UNDP Regional Center in Bangkok, and the Secretariat of the United Nations International Strategy for Disaster Reduction. [1]
Comparison of floor area ratio (FAR) or floor space index (FSI) and building coverage ratio (BCR) Floor area ratio (FAR) is the ratio of a building's total floor area (gross floor area) to the size of the piece of land upon which it is built. It is often used as one of the regulations in city planning along with the building-to-land ratio. [1]
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.
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These are known as by-right uses. Then there is an extra set of uses known as special uses. To build a use that is listed as a special use, a special-use permit (or conditional-use permit) must be obtained. An example of a special-use permit may be found in a church applying for one to construct a church building in a residential neighborhood ...