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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 ".
The Philippines’ inflation target is measured through the Consumer Price Index (CPI). For 2009, inflation target has been set to be 3.5 percent, having a 1% tolerance level, and 4.5 percent for 2010, also having 1% tolerance. Also, the Monetary Board of the Philippines announced a target of around 4±1 percent from 2012 to 2014. [14]
The Food and Drug Administration (FDA) of the Philippines, formerly the Bureau of Food and Drugs (BFAD / ˈ b iː f æ d /; 1982–2009), is a health regulatory agency under the Department of Health created on 1963 by Republic Act No. 3720, amended on 1987 by Executive Order 175 otherwise known as the "Food, Drugs and Devices, and Cosmetics Act", and subsequently reorganized by Republic Act No ...
The Securities and Exchange Commission (Filipino: Komisyon sa mga Panagot at Palitan; SEC) is the agency of the government of the Philippines charged with the registration and supervision of corporations and securities, as well as capital market institutions and participants, in the Philippines.
Constitutional reform in the Philippines, commonly referred to as charter change or colloquially as cha-cha, involves the political and legal procedures required to modify the existing 1987 Constitution of the Philippines.
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Per the Philippine Statistics Authority, in 2015 the Philippines had a poverty incidence of 26.3%. [19] While this figure has been decreasing over the past few years, [ 19 ] this still is one of the reasons why girls and their families turn to prostitution to enable the family to maintain a certain level of lifestyle. [ 20 ]
According to World Bank data, the Philippines' gross domestic product (GDP) quadrupled from $8 billion in 1972 to $32.45 billion in 1980, for an inflation-adjusted average growth rate of 6% per year. [40] Indeed, according to the U.S.-based Heritage Foundation, the Philippines enjoyed its best economic development since 1945 between 1972 and 1980.