Discuss the nature of philippine tax law
Answers
cannot be imposed by the local government. The basic source of Philippine tax law is the National Internal Revenue Law, which codifies all tax provisions, the latest of which is embodied in Republic Act No. 8424 (“The Tax Reform Act of 1997”).
Answer:
Tax law in the Philippines covers national and local taxes.
Explanation:
On the BIR website, you can find information about national taxes, including the Tax Code of 1997, Revenue Issuances, and BIR Rulings.
Federal Tax Code
I. Constitution of 1987
The Philippine Constitution of 1987 places restrictions on the use of the taxing authority.
Taxation regulations must be fair and consistent. The Congress must develop a progressive taxation system. (See Article VI, Section 28, first sentence)
All funds received from taxes imposed for special purposes must be treated as special funds and used exclusively for those purposes. If a special fund's intended use has been achieved or abandoned, any remaining funds will be transferred to the government's general funds. Article VI, Section 29, sentence three
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