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Interest income from a depository bank under the expanded foreign currency deposit system is taxed at the rate of 15%. [3] Income from long-term deposits and investments, when pre-terminated in less than three years after making such deposit or investment, is taxed at the rate of 20%; less than four years, 12%; and, less than five years, 5%. [2]
The National Internal Revenue Code is the law establishing the system of national taxation in the Philippines. The most recent extensive revision of the Code occurred in 1997, although the Code was amended in 2005 to expand the coverage and rates of value-added tax.
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
The Bureau of Internal Revenue [2] (BIR; Filipino: Kawanihan ng Rentas Internas) is a revenue service for the Philippine government, which is responsible for collecting more than half of the total tax revenues of the government. It is an agency of the Department of Finance and it is led by a Commissioner.
This category lists GOCCs of the Philippines which have an article in the English-language Wikipedia. The main articles for this category are Governance Commission for GOCCs and Government-owned and controlled corporation .
The Philippine Statistics Authority (Filipino: Pangasiwaan ng Estadistika ng Pilipinas; PSA) is the central statistical authority of the Philippine government that collects, compiles, analyzes, and publishes statistical information on economic, social, demographic, political affairs, and general affairs of the people of the Philippines, as well as enforcing the civil registration functions in ...
After World War II, President Manuel Roxas issued Executive Order (EO) No. 94 on October 4, 1947, creating the Department of Commerce and Industry (DCI). [4] Cornelio Balmaceda, a much sought-after professor of economics and director of the Bureau of Commerce (BOC), was appointed acting secretary of the newly created Department of Commerce and Industry.
List of initialisms, acronyms ("a word made from parts of the full name's words, pronounceable"), and other abbreviations used by the government and the military of the Philippines. Note that this list is intended to be specific to the Philippine government and military—other nations will have their own acronyms.