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The Supreme Court, in a decision dated December 7, 2021 and only publicized in September 2022, declared unconstitutional two subsections which imposed new taxes on Philippine Offshore Gaming Operator licensees: Section 11(f) (5% franchise tax on gaming operations) and Section 11(g) (taxes on non-gaming operations, including income and VAT).
Income tax for individuals. Citizens of the Philippines and resident aliens must pay taxes for all income they have derived from various sources, which include, but are not limited to: compensation income (e.g., salary and wages); income of self-employed individuals and/or professionals; capital gains; interests; rents;
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of capital held by the entity.
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 ...
ABS-CBN broadcast franchise, granted on March 30, 1995, expired on May 4 without a renewal, 2020. National Telecommunications Commission issued a cease and desist order on ABS-CBN, effectively ceasing broadcast operations on May 5. ABS-CBN Corporation filed petitions before the Supreme Court of the Philippines on May 7, seeking to nullify the ...
Telecommunications Franchise: Philippine Global Communications, Inc 2012-12-04: 10344: Risk Reduction and Preparedness Equipment Protection Act 2012-12-04: 10345: Increasing Bed Capacity of a Hospital 2012-12-04: 10346: Converting an Extension Office into a Regular Office (LTO) 2012-12-04: 10347: Converting an Extension Office into a Regular ...
Website. www.bir.gov.ph. The Bureau of Internal Revenue[2] (Filipino: Kawanihan ng Rentas Internas, or BIR) is a revenue service for the Philippine government, which is responsible for collecting more than half of the total tax revenues of the government. It is an agency of the Department of Finance and it is led by a Commissioner.
The first iteration of the LTFRB was established on November 17, 1902, through the passing of Act No. 520. [1] The commission is in charge of classifying vessels, merchandise, and passengers in with reference to transportation under the coastwise trade, and fixing the maximum rates to be imposed on the vessels and merchandise of different classes, and people that are being moved from one point ...