fiscal policy

each local government unit shall have the power to create its own sources of revenues and to levy taxes, fees and changes subject to such guidelines and limitations as the CONGRESS may provide consistent with the basic policy of local autonomy. Such taxes, fees and charges shall have accrue exclusively to the local government unit.

The power to tax is primarily vested in the Congress however in our jurisdiction it may be exercised by local legislative bodies NO LONGER by virtue of a valid delegation as before but pursuant to direct authority conferred by

The power to tax is inherently only with respect to the state, for the LGU's their power to tax is a

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direct grant of the constitution

whats the difference of the power to tax of the state and the power to tax of LGU

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The power to tax is INHERENTLY only with the respect to the STATE. for LGU their power to tax is a DIRECT GRANT OF THE CONSTITUTION

Prescriptive period of assessment and collection of taxes are laid down in :

Taxing the same person twice by the same jurisdiction for the same thing

describe as direct duplicate taxation

intended to established the principle of quality of international treatment by providing that the citizens or subject o the contracting nations may enjoy the privileges accorded by either party to those of the most favored nation

as a rule, laws have no retroactive effect unless the contrary is provided

eliminating double taxation

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credit method

exemption method

tax treaty