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Taxation. 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 ". [1]
Tax effort as a percentage of GDP has averaged at roughly 13% for the years 2001–2010. Income taxes. 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 1997 (NIRC), less any deductions granted.
Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
Clark, officially known as the Clark Freeport and Special Economic Zone ( CFEZ ), [4] refers to an area in Central Luzon, Philippines . The CFEZ in Pampanga covers portions of the cities of Angeles and Mabalacat and portions of the town of Porac while parts of the area in Tarlac include portions of the towns of Capas and Bamban, Tarlac .
The Philippines is generally mountainous; uplands make up 65 percent of the country's total land area. [53]: 38 [201] The Philippines is an archipelagoof about 7,641 islands,[202][203]covering a total area (including inland bodies of water) of about 300,000 square kilometers (115,831 sq mi).
Luzon (/ l uː ˈ z ɒ n /, loo-ZON; Tagalog pronunciation:) is the largest and most populous island in the Philippines.Located in the northern portion of the Philippine archipelago, it is the economic and political center of the nation, being home to the country's capital city, Manila, as well as Quezon City, the country's most populous city.
Metro Manila is the home to the National Museum of the Philippines, the national museum of the country. It operates a chain of museums located in the grounds of Rizal Park just outside Intramuros, such as the National Museum of Fine Arts, the National Museum of Anthropology and the National Museum of Natural History.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .