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The TRAIN Act is the first of four packages of tax reforms to the National Internal Revenue Code of 1997, or the Tax Code, as amended. [3] This package introduced changes in personal income tax (PIT), [ 4 ] estate tax, donor's tax, value added tax (VAT), documentary stamp tax (DST) and the excise tax of tobacco products, petroleum products ...
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.
National law: National Internal Revenue Code—enacted as Republic Act No. 8424 or the Tax Reform Act of 1997 [2] and subsequent laws amending it; the law was most recently amended by Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion Law; [3] and,
The Department of Finance (DOF; Filipino: Kagawaran ng Pananalapi) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public ...
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 ...
An understaffed IRS could add more delays to the already complicated and bogged-down tax filing system. The agency says most individual refunds are processed within 21 days when filed online, but ...
A revenue service, revenue agency or taxation authority is a government agency responsible for the intake of government revenue, including taxes and sometimes non-tax revenue. [ 1 ] [ 2 ] Depending on the jurisdiction , revenue services may be charged with tax collection , investigation of tax evasion , or carrying out audits .
The Commission on Appointments confirms certain appointments made by the President of the Philippines.Article VII, Section 16 of the 1987 Constitution reads: "The President shall nominate and, with the consent of the Commission on Appointments, appoint the heads of the executive departments, ambassadors, other public ministers and consuls, or officers of the armed forces from the rank of ...