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Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
Datu Wilfredo Lunsayan Sanggayan - a Municipal Councilor of the Municipality of Kabasalan, Province of Zamboanga del Sur for Three (3) consecutive terms from July 1, 1992 to June 30, 2001 (9 years); He also served as Provincial Board Member representing the Indigenous Peoples of the Province of Zamboanga Sibugay from July 2005 to October, 2012 ...
As a result of the 1986 tax reform program, average tax effort rose to 13.1 percent during the Aquino administration (1986–1992) and to 16.2 percent during the Ramos administration (1993–1998). Revenue effort rose steadily until the next round of tax reforms. Tax effort increased from 10.7% in 1985 to 15.4% in 1992, then peaked at 17.0% in ...
(Bloomberg) -- The Philippines’ incoming tax agency chief said she will collect the estate tax due from the family of President-elect Ferdinand Marcos Jr., taking on an issue that has hounded ...
The types of sovereign state leaders in the Philippines have varied throughout the country's history, from heads of ancient chiefdoms, kingdoms and sultanates in the pre-colonial period, to the leaders of Spanish, American, and Japanese colonial governments, until the directly elected president of the modern sovereign state of the Philippines.
Withholding taxes on royalties grants the source country its share in tax revenue. As tax royalty payments to licensors are lowered on an after tax basis, withholding taxes are not attractive from the perspective of a company. Therefore, in countries with higher withholding tax rates licensors demand higher before tax royalty rates from licensees.
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 ...
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.