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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 ".
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 ...
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
Eligible medical expenses vary depending on the type of HRA but may include the following: Medical services and treatments: Acupuncture. Addition treatment. Ambulances. Artificial limbs or teeth.
The Philippines introduced The Tax Amnesty Act of 2019 or the Republic Act No. 11213 [37] which was signed into Law on February 14, 2019, with a Veto Message of President Rodrigo R. Duterte. The said Law was published on the Official Gazette on February 18, 2019, and took effect on March 5, 2019, that is, on the 15th day after the official ...
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