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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 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 ...
The primary bodies in each country are affiliated to the International Federation of Accountants while a few do not belong to IFAC as they operate more like specialist bodies helping the work of accountants and auditors such as the field of taxation, forensic auditing and systems auditing. These bodies include:
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 ...
Pages in category "Taxation in the Philippines" The following 4 pages are in this category, out of 4 total. This list may not reflect recent changes. ...
Pakistan Institute of Public Finance Accountants: Panama: Member: CCPAP Colegio de Contadores Públicos Autorizados de Panamá Papua New Guinea: Associate: CPAPNG Certified Practising Accountants Papua New Guinea Paraguay: Member: CCP Colegio de Contadores de Paraguay Peru: Suspended: Junta de Decanos de Colegios de Contadores Publicos del Peru ...
Finance Secretary Cesar V. Purisima at the World Economic Forum on East Asia 21 April 2015. Purisima helped President Aquino achieve a strong fiscal position for the Philippines by cracking down on corruption, plugging revenue leakages, and strengthening tax administration and enforcement capabilities.