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Learn about the policy, laws, and types of taxes in the Philippines, including income tax, estate tax, donor's tax, value-added tax, and more. Find out the rates, schedules, and exemptions for each tax category.
The Tax Reform for Acceleration and Inclusion Law (TRAIN Law) is the first package of the Comprehensive Tax Reform Program (CTRP) signed by President Duterte in 2017. It lowered personal income tax and raised consumption tax on various products, aiming to achieve higher income country status by 2022 and 2040.
Compare the main types of taxes (corporate, income, sales, capital gains, inheritance) across different countries and territories. See the lowest and highest marginal rates, as well as the sources and further reading for each entry.
Federal Tax Brackets 2022 for Income Taxes Filed by April 18, 2022 . Tax Bracket. Single. Married Filing Jointly or Qualifying Widow(er) Married Filing Separately. Head of Household. 10%. $0 to ...
Learn about the origin, evolution and current practices of income tax, a tax imposed on individuals or entities based on their income or profits. Compare different tax rates, deductions, credits and exemptions across countries and jurisdictions.
Learn about the federal and state income tax systems in the U.S., including sources of law, basic concepts, rates, deductions, and credits. Find out how income is defined, taxed, and reported for individuals, corporations, and other entities.
Section 284 of the Local Government Code of the Philippines (RA 7160) sets up the formula for the distribution of the allotment. All or nearly all of the revenue that a local government has to spend comes from their IRA, though some local governments also have additional local sources of revenue such as property taxes and government fees.
Learn about the extent, measurement and historical background of income inequality in the Philippines, a Southeast Asian country with a growing economy but a large gap between rich and poor. See data, charts and sources on Gini coefficient, Palma ratio and GDP growth rate.