Taxation System in the Philippines

It is based on the ability-to-pay principle wherein people with higher income should pay more

• Income Tax

• Consumption Tax

• Business Tax

• Excise Tax

It refers to the practice of a government collecting money from its citizens to pay for public services.

• ​Taxation

• ​Sales

• Excise Tax

• Income Tax

It is based on the amount of goods and services utilized such that the more you consume, the higher the tax you pay.

• Consumption Tax

• Real Property Tax

• Excise Tax

• Value Added Tax

​Who pays the taxes in the Philippines?

• Citizens of the Philippines

• Businessman

• Professionals

• Government Officials

​What are the legal basis of the Philippine Taxation?

• Article VII, Section 28 of the 1987 Philippine Constitution

• Article VI, Section 8 of the 1987 Philippine Constitution

• ​Article VI, Section 28 of the 1987 Philippine Constitution

• Article VII, Section 8 of the 1987 Philippine Constitution

​It is enacted as Republic Act No. 8424 or the Tax Reform Act of 1997.

(a)  

​It includes salaries, wages, taxable bonuses, fringe benefits, and other allowances.

(a)  

​It is a form of excise tax which  is based on weight, volume capacity, or any other physical unit of measurement.

(a)  

Nestor has an income of 56, 000 pesos a month. How much tax will Nestor pay in a year?

​It is a type of indirect tax imposed on goods and services. It is typically passed on the buyer as part of the selling price.​ ​ ​ (a)  

• Value Added Tax

• Excise Tax

• Passive Income

• Business Income