Revenue mobilization and responsiveness of Philippine income taxes

implications for fiscal policy by Benjamin E. Diokno

Publisher: University of the Philippines, School of Economics in [Quezon City, Philippines]

Written in English
Published: Pages: 26 Downloads: 808
Share This


  • Philippines.


  • Income tax -- Philippines.,
  • Revenue -- Philippines.,
  • Fiscal policy -- Philippines.

Edition Notes

Statementby Benjamin E. Diokno.
SeriesDiscussion paper / University of the Philippines, School of Economics ;, no. 8605, Discussion paper (University of the Philippines. School of Economics) ;, 8605.
LC ClassificationsHJ4743 .D56 1986
The Physical Object
Pagination26 p. :
Number of Pages26
ID Numbers
Open LibraryOL2431526M
LC Control Number87120920

At the core of efforts to meet the Sustainable Development Goals lies a commitment to enhance domestic revenue mobilization. Strengthening capacity to collect tax and other revenue is key for developing countries as they move forward. Not only is this priority enshrined in SDG , it also sits atop the Addis Ababa Action Agenda. Strengthen domestic resource mobilization, including through.   The points summarized above are just a few of the more common accounting and tax differences in operating companies in the country. We expect more tax and accounting differences to arise when companies adopt the new accounting standards on revenue in , and on leases in 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". national law: National Internal Revenue Code—enacted as Republic Act No. tax-to-income elasticity for sales tax/V A T dampened the overall responsiveness of tax revenue to changes in GDP. Thus, the high tax-to-base elasticity of direct taxes, import.

Data and research on income taxes including OECD tax databases, taxing wages, revenue statistics, tax policy studies., Revenue Statistics in Asian and Pacific Economies is jointly produced by the Organisation for Economic Co-operation and Development (OECD)’s Centre for Tax Policy and Administration (CTP) and the OECD Development Centre (DEV) with the co-operation of the Asian .   3 Mobilization of tax revenues in Africa AFRICA GROWTH INITIATIVE Figure 1: Regional non-resource taxes as percent of GDP6 Source: ICTD / UNU-WIDER Government Revenue Dataset, November   Tax buoyancy is an important indicator of the efficiency and responsiveness of tax revenue mobilisation to GDP growth. It is calculated as a ratio of percentage growth in tax . ceded revenue deals with a number of lesser tax fields that central government has ceded to the district assemblies. Entertainment duty, casino revenue, betting tax, advertisement tax and others by the Ghana Internal Revenue Service are examples of ceded revenue available to .

At the national level, taxes are imposed and collected pursuant to the National Internal Revenue Code, the Tariff and Customs Code, and several special laws. There are four main types of national internal revenue taxes: income, indirect (value-added and percentage taxes), excise and documentary stamp taxes, all of which are administered by the Bureau of Internal Revenue (BIR). At the local. This is the first in a series of four policy memos that explore various facets of domestic resource mobilization (DRM) and will examine the role of tax systems. DRM is commonly defined as the mix of financial resources available to a government to fund its operations, including direct and indirect taxes, other revenue, and borrowing from local capital markets. Data and research on tax including income tax, consumption tax, dispute resolution, tax avoidance, BEPS, tax havens, fiscal federalism, tax administration, tax treaties and transfer pricing., The publication Revenue Statistics in Africa is jointly undertaken by the OECD Centre for Tax Policy and Administration and the OECD Development Centre, the African Union Commission (AUC) and the African. In the approved tax reform bill under TRAIN, from the initial implementation in the year until the year Those earning an annual salary of P, or below will no longer pay income tax (zero income tax).; Those earning between P, and P, per year will be charged an income tax rate of 20% on the excess over P,; Those earning annual incomes between P, and P

Revenue mobilization and responsiveness of Philippine income taxes by Benjamin E. Diokno Download PDF EPUB FB2

Benjamin E. Diokno, "Revenue Mobilization and Responsiveness of Philippine Income Taxes: Implications for Fiscal Policy," UP School of Economics Discussion PapersUniversity of the Philippines School of Economics.

Handle: RePEc:phs:dpaper As a professor of Taxation since Jthe author had encountered several problems involving the treatment of income and its taxable base or valuation, deductions and its limitations, confl icting tax provisions and revenue regulations normally encountered by the students and taxpayers, which can be simplifi ed and settled.

Second, it documents the trend and pattern of local government income (Section 3). Third, it provides estimates of various measures of revenue performance: buoyancy of local source revenue (total as well as its components), collection rate, tax intensity (per capita tax revenue) in Section 4.

To supplement readings on fundamental principles on income taxation or for advance studies on income tax, involving the application of principles found in the various tax treaties concluded by the Philippines with other countries, my book on “Philippine Tax Treaties,” which will be off the press in the early part ofis highly recommended.

Revenue mobilization and responsiveness of Philippine income taxes: implications for fiscal policy Diokno, Benjamin E., () More. Revenue Mobilization and Responsiveness of Philippine Income Taxes: Implications for Fiscal Policy pp. Benjamin E. Diokno. Vol issue 1&2, Export Market for Philippine Diversified Agriculture and Labor-Intensive Industries pp.

Gwendolyn R. Tecson Protection, Concentration, and the Direction of Foreign Investments pp. Downloadable. The most important role that fiscal policy can play with regard to growth is to ensure macroeconomic stability.

But despite two highly visible tax reform programs in less than two decades, the Philippines is now in the midst of a fiscal crisis. This has been brought about by pressures on the spending side of the equation.

But Revenue mobilization and responsiveness of Philippine income taxes book biggest contributor to the present fiscal crisis. Chapter 3 - Table - Tax revenues of subsectors of general government as % of total tax revenue Chapter 3 - Table Total tax revenue in US dollars at market exchange rate Chapter 3 - Tables to - Taxes as % of GDP and as % of Total tax revenue.

Revenue Mobilization in Developing Countries Prepared by the Fiscal Affairs Department may require low-income countries to raise their tax-GDP ratios by around 4 percentage points (United Nations, ).

which are treated at length in a recent Fund book (Daniel, Keen, and McPherson, ). Treaty with the Philippines or allows a credit for taxes paid in the Philippines.

The approach to tax audits is largely a manual approach including detailed consideration P49 Philippine taxation handbook: a simplified course with easy matrix guide to all internal revenue taxes based on the internal revenue.

Tax Revenue Mobilization - Lessons from World Bank Group Support for Tax Reform. This learning note reviews existing IEG evaluative evidence on the Bank Group’s support to tax policy and administration reform produced by the Independent Evaluation Group over FY Revenue Division Year Book xiv Foreword FBR has been able to collect Rs.

3, billion during FYwhich is % lesser than the collection of previous fiscal year. The revenue target has been met to the extent of around 92%. The growth of revenue remained higher in 1st half as compared to last half.

The. 56 cents per dollar of tax revenue.4 Taxes, such as an income tax or a tax on goods and services with an inelastic demand/supply, tend to have a smaller impact on producer or consumer behavior and, therefore, cause less of a distortion in the economy.

At present, the economic efficiency. Government Revenues in Philippines increased to PHP Million in September from PHP Million in May of Government Revenues in Philippines averaged PHP Million from untilreaching an all time high of PHP Million in June of and a record low of 81 PHP Million in November of This page provides - Philippines Government Revenues- actual values.

Unfortunately, no shortcuts exist for achieving these goals, but in the short run, steps may be taken toward tax reform to (1) achieve objectives beyond revenue generation; and (2) enhance government responsiveness and accountability.

Tax reform will remain incomplete, however, without also addressing both tax structure reform and tax. Income Tax is a tax on all yearly profits arising from property, profession, trades or offices or as a tax on a person’s income, emoluments, profits and the like.

Percentage Tax is a business tax imposed on persons or entities who sell or lease goods, properties or services in the course of trade or business whose gross annual sales or.

Tax is a significant cost in business. As such, properly managing and controlling inherent tax risks is a must. And to keep up with tax developments and have a clearer understanding, top businessmen seek professional tax advice to help them manage tax risk, control costs, and seize tax planning opportunities.

Georgia offers a striking example of successful tax revenue reform. Following the collapse of the Soviet Union, the government struggled to collect tax revenue. Byrampant corruption involving tax evasion, illegal tax credits, and theft of government tax revenue had left public finances in shambles.

Revenue mobilization and responsiveness of Philippine income taxes: Revenue performance of national government taxes, / A Review and appraisal of the government response to the balance-of-payments crisis /.

Income Tax is a tax on a person's income, emoluments, profits arising from property, practice of profession, conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of (Tax Code), as amended, less the deductions if any, authorized for such types of income, by the Tax Code, as amended, or other.

Every individual citizen, alien residing in the Philippines, and every non-resident alien engaged in trade or business in the Philippines, who is receiving income, whether it constitutes the sole source of their income or in combination with salaries, wages, and other fixed or determinable income, is required to file an income tax return on or before 15 April of each year covering income for.

Philippine Standard Time: Average Family Income in is Estimated at 22 Thousand Pesos Monthly (Results from the Family Income and Expenditure Survey) The survey results showed that the average annual family income of Filipino families was approximately thousand pesos. In comparison, the average annual family expenditure for the.

revenue mobilization and impacts on tax equity. Its key findings are: 1) a policy mix of a higher value-added tax and a lower corporate income tax will make the overall tax system more regressive, even if its impact on tax revenue is neutral; 2) the country’s tax productivity is much lower than those of its peers in the region, which signals the.

Download Philippine Tax Journal full book in PDF, EPUB, and Mobi Format, get it for read on your Kindle device, PC, phones or tablets. Philippine Tax Journal full free pdf books. Income tax is a tax on a person's income, wages, profits arising from property, practice of profession, conduct of trade or business or any stipulated in the National Internal Revenue Code of (NIRC), less any deductions granted.

Income tax in the Philippines is a progressive tax, as people with higher incomes pay more than people with. revenue mobilization, trust, and fiscal contracts. Recent research points toward potential elements of a strategy to strengthen the links between revenues and public benefits, including a greater emphasis on building trust and tax morale among taxpayers, expanded attention to the political.

Its key findings are: 1) a policy mix of a higher value-added tax and a lower corporate income tax will make the overall tax system more regressive, even if its impact on tax revenue is neutral; 2) the country's tax productivity is much lower than those of its peers in the region, which signals the presence of significant tax loopholes and weak.

Okech, T., and Mburu, P. (), “Analysis of responsiveness of tax revenue to changes in national income in Kenya between ,” International Journal of Business and Social Science Vol. 2 No. 21 [Special Issue – November ].

During FY the growth in tax revenue is mainly driven by customs duties and sales tax imports. The custom duties have recorded a very healthy growth of %, followed by sales tax (%), FED (%) and income tax (%).

1 The tax collection figures for FY are provisional and subject to final reconciliation. Income taxes levied under the Internal Revenue Act,(Act ) and its amendments comprises personal income tax, corporate tax, withholding tax, rental income tax and tax on interest, among others. Personal income tax which is levied on formal sector employees is the most important in Ghana and charged at a graduated scale.

When moving to the Philippines, especially if you are going to work or set up a business there, you will probably have questions regarding the local taxas in most countries, you are likely to pay income tax, as well as other types of taxes in the Philippines.

However, tax is deducted under several conditions and at varied rates for different categories of foreigners.income countries and tax revenue mobilization. First, (H1a) Tax re venues will increase prior to conflict, as conflict creates incentives for governments to rais e tax revenues to meet the costs.

If you want to minimize your income tax legally, you should know what the allowable deductible expenses in Philippines are. Because more expenses means lower income tax.

But you should know that there are rules before you claim them as allowable deductible expenses for your business or your profession. And you will learn them after [ ].