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The Department of Finance (DOF; Filipino: Kagawaran ng Pananalapi) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public ...
Through this program, the richer tax payers of the Philippines will pay a greater contribution to enable the government to execute its programs and services targeted to the general improvement of the country, especially the less fortunate. [24] [25] There are six main key provisions, three additional excise taxes, and four financial taxes. [26]
Parent agency. Department of Finance. 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.
Website. dof.gov.ph. The secretary of finance (Filipino: kalihim ng pananalapi) is the cabinet of the Philippines member in charge of the Department of Finance. The current secretary is Ralph Recto, who was appointed to office on January 12, 2024.
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 ...
The Internal Revenue Allotment (IRA) is a local government unit ’s (LGU) share of revenues from the Philippine national government. Provinces, independent cities, component cities, municipalities, and barangays each get a separate allotment. The allotment is largely based upon the type of government they are and a formula based upon their ...
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;
First Republic. Department of Agriculture, Industry and Commerce. Department of Communications and Public Works. Department of the Interior. Department of Foreign Relations. Department of Public Education. Department of Wars and Marine. Department of Finance.