TAXATION Flashcards
(25 cards)
laying a tax through which the government generates income to defray its expenses. It is a way to raise funds for government program and services that benefit Filipino citizens.
Taxation
The ancient Filipinos in the barangays started the practice of paying taxes. The purpose of paying taxes was simple: for the protection that they received from the local chieftain, the Datu
Pre-Spanish
may be paid in any kind. Polo y servico is the forced labor
Tributo (tribute) and Cedula
Polo y servico is the forced labor for
40 days of men ranging from 16 to 60 years of age who were obligated to give personal service to community projects
paid to be exempted from the forced labor.
Falla
is a land management system similar to the feudal system in Europe; A meritorious Spaniard (called an encomendero) is given control over a piece of land and its inhabitants.
The encomienda system
is generally a trade between the Chinese and Spaniards in Manila and the Spaniards in Mexico.
The Manila-Acapulco Trade
July 2, 1904 _______ was created through the passage of Reorganization Act No. 1189.
was passed as a reaction to the problems of collecting land tax. It prescribed major sources of revenue.
The most notable programs implemented were the “Blue Master Program” and the “Voluntary Tax Compliance Program”.
FERDINAND MARCOS
was passed as a reaction to the problems of collecting land tax. It prescribed major sources of revenue.
Internal Revenue Law of 1904
implemented that aimed to promote and encourage compliance with the requirements
CORAZON AQUINO value-added tax (VAT)
was undertaken to realign and direct the entire organization towards the fulfillment of its vision and mission.
FIDEL RAMOS
- ACTS or Action-Centered Transformation Program
Encourage and educate consumers/taxpayers of demanding sales invoices and receipts, which was institutionalized in 1999 through the raffle promo “Humingi ng Resibo, Manalo ng Libo-Libo”.
JOSEPH ESTRADA
was undertaken to realign and direct the entire organization towards the fulfillment of its vision and mission.
FIDEL RAMOS
- ACTS or Action-Centered Transformation Program
- the BIR expanded its electronic services to include the web-based TIN application and processing; electronic raffle of invoices/receipts; provision of e-payment gateways
- Run After Tax Evaders (RATE)
GLORIA ARROYO
Enacted the Sin Tax against cigarettes and alcohol products, as well as foreign investors perceived improvement and in sincere efforts to fight graft and corruption
NOYNOY AQUINO
TRAIN LAW (TAX REFORM FOR ACCELERATION AND INCLUSION)
Republic Act 10963
RODRIGO DUTERTE
Tax on all annual profits made from property ownership, profession, trades or offices.
INCOME TAX
Those with taxable income below P250,000 will be exempt from paying PIT, while the rest of taxpayers, except the richest, will see lower tax rates ranging from 15% to 25% by 2020.
Republic Act 10963
Taxes based on the local government taxation in the Philippines as stated in the Republic Act 7160 or the Local Government Code of 1991, as amended. These are taxes, fees, or charges are imposed by the local government units such as provinces, cities, municipalities, and barangays.
LOCAL TAX
Entities Exempted from Taxation
- Charitable institutions, churches, parsonages or convents appurtenant thereto, mosques, and nonprofit cemeteries and all lands.
- Printer and/or publisher of books or other reading materials prescribed by DECS (now DepEd) as school texts.
Taxes based on the local government taxation in the Philippines as stated in the Republic Act 7160 or the Local Government Code of 1991, as amended. These are taxes, fees, or charges are imposed by the local government units such as provinces, cities, municipalities, and barangays.
LOCAL TAX
is the grant of immunity or freedom from a financial charge, obligation, or burden to which others are subjected.
Tax Exemption
use by a taxpayer of legally permissible means or methods in order to avoid or reduce tax liability. It is not punishable by law.
Tax avoidance
