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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 ".
The adoption of the VAT system was one of the structural reforms provided for in the 1986 Tax Reform Program, which was designed to simplify tax administration and make the tax system more equitable. It was also in 1988 that the Revenue Information Systems Services Inc. (RISSI) was abolished and transferred back to the BIR by virtue of a ...
The Philippine Business and News: English: Daily: National Philippine Daily Mirror: English: Daily: National Rappler [7] English: Daily: National SunStar Manila: English: Daily: National POLITIKO: English: Daily: National Bilyonaryo: English Daily National Asul TV English/Filipino Daily National Daily Sun Chronicle: English Daily National
The Expanded Value Added Tax (E-VAT), is a form of sales tax that is imposed on the sale of goods and services and on the import of goods into the Philippines. It is a consumption tax (those who consume more are taxed more) and an indirect tax, which can be passed on to the buyer. The current E-VAT rate is 12% of transactions.
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Philippine business groups said on Friday they deplored the harassment of the country's military, in comments that come after a recent clash between navy personnel and the Chinese coast guard in ...