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On July 25, 1987, President Corazon Aquino promulgated the Administrative Code of the Philippines. [1] Chapter 9 of this code specified a list of ten nationwide regular holidays and two nationwide special days and provided that the President may proclaim any local special day for a particular date, group or place.
Tax relief can be provided in the form of tax concessions to assure the investment of new businesses or the retention of existing ones. [1] Tax holidays have been granted by governments at national, sub-national, and local levels, and have included income, property, sales, VAT, and other taxes. Some tax holidays are extra-statutory concessions ...
However, if their gross sales (or gross receipts plus other non-operating income) does not exceed the VAT threshold, they have the option to be taxed either on the basis of the income tax schedule for individuals and the applicable percentage taxes, or just with a flat tax rate of 8% on their gross sales (or gross receipts plus other non ...
Fiscal incentives include: income tax holiday for a certain number of years, which translates to 100% exemption from corporate income tax; tax and duty-free importation of raw materials, capital equipment, machineries and spare parts; exemption from wharfage dues and export tax, impost or fees; VAT zero-rating of local purchases subject to ...
This page was last edited on 21 February 2023, at 03:39 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
She would sign into law Republic Act 9492 the Holiday Economics Law on July 24, 2007 [3] which allows the observance of otherwise fixed public holidays except for New Year's Day on January 1, All Saint's Day on November 1, Christmas Day on December 25, and the last day of the year, December 31 to the nearest Monday.
This page was last edited on 8 September 2005, at 19:54 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
{{Public holidays in the Philippines | state = collapsed}} will show the template collapsed, i.e. hidden apart from its title bar. {{Public holidays in the Philippines | state = expanded}} will show the template expanded, i.e. fully visible. See this for exact dates and names. Any holidays not listed there should not be added here.