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The Universal Access to Quality Tertiary Education Act, officially designated as Republic Act 10931, is a Philippine law that institutionalizes free tuition and exemption from other fees in state universities and colleges (SUCs), and local universities and colleges (LUCs) in the Philippines. The law also foresees subsidies for private higher ...
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]
VAT exempt tax payers now have the option to: PIT schedule with 40% OSD on gross receipts or gross sales plus 3% percentage tax; PIT schedule with itemized deductions plus 3% percentage tax, or; Flat tax of 8% on gross sales or gross revenues in lieu of percentage tax and personal income tax. [25]
Suspended the personal exemption: The TCJA repealed the personal exemption, which was $4,150, until the end of 2025. Expanded child tax credit: It increased the child tax credit to $2,000. Only ...
5% (Fresh fruits and vegetables, books, newspapers) [131] 20% [132] Taxation in Latvia Lebanon [42] 17% 2% 25% 11% Taxation in Lebanon Lesotho: 25% — — — Taxation in Lesotho Liberia: 25% [133] — — — Taxation in Liberia Libya: 24.5%; 20% corporate tax plus a 4% Jehad tax plus a 0.5% tax on corporate income to pay for stamp duties ...
TAXING SITUATION The Philippines is to impose a 12% value-added tax on overseas digital service providers operating in the country, including Netflix, HBO and Disney. The measure was signed into ...
Students who completed at least four years of secondary education under the 1945–2017 K–10 system were awarded a Diploma (Katibayan) and a secondary school Certificate of Graduation (Katunayan) from the DepEd. Students are also granted a Permanent Record or Form 137-A, listing all classes taken and grades earned.
The child tax credit (CTC) is a partially refundable tax credit available to taxpayers with dependent children under the age of 17. The maximum tax credit per qualifying child is $2,000, $1,700 of ...