Search results
Results From The WOW.Com Content Network
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 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.
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.
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 ...
The IMF mandated stabilization plan which accompanied the agreement included numerous macroeconomic interventions, including a shift away from the Philippines’ historical economic strategy of import substitution industrialization and towards export-oriented industrialization; and the allowing the Philippine Peso to float and devalue.
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.
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 ...
Main page; Contents; Current events; Random article; About Wikipedia; Contact us