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The economy saw an increase in tax revenues, government expenditure and an incremental growth in GDP. [8] On the other hand, unprecedented inflation rates that exceeded projected calculations, [9] has been the cause for much uproar and objections. There have been petitions to suspend and amend the law, so as to safeguard particular sectors from ...
Prizes and winnings from Philippine Charity Sweepstakes Office (PCSO) Lotto in excess of P10,000 (upon which individual prizes and winnings P10,000 or below are taxed on the basis of the income tax schedule for individuals) are taxed at the rate of 20%. [3]
The Philippine Charity Sweepstakes Office (PCSO, Filipino: Tanggapan sa Charity Sweepstakes ng Pilipinas [2]) is a government-owned and controlled corporation of the Philippines under direct supervision of the Office of the President of the Philippines. It is mandated to do fund raising and provide funds for health programs, medical assistance ...
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The Philippine Criminology Profession Act of 2018 November 15, 2018 [27] 11148 Kalusugan at Nutrisyon ng Mag-Nanay Act (lit. ' Health and Nutrition for Mother and Child Act ') November 29, 2018 [28] 11663 National Bible Day Act December 20, 2018 [29] 11665 Telecommuting Act December 20, 2018 [30] 11666 Philippine HIV and AIDS Policy Act of 2018
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 ...
The government aims to collect 105 billion pesos ($1.9 billion) from the VAT between 2025 and 2029. It plans to allocate 5% of this revenue to fund projects for Philippine creative industries, the ...
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 ...