Philippine Tax System Assessment
“TAX SYSTEM OF THE PHILIPPINES: ITS ASSESSMENT”
I. INTRODUCTION
Taxation: Defined
As defined by Cooley, taxation is the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of government. It is expressed in another way as a method of apportioning the cost of government among those who in some measure are privileged to enjoy its benefits and must, therefore, bear its burdens. In order to finance the necessary expenses of the government, there is a need to collect money from those people under its jurisdiction who are also the ones benefiting from the said expenditures.
Taxation is the imposition of a mandatory levy on the citizens and/or the businesses of a country by their government. In almost every country, the government derives a majority of its revenues for financing public services from taxation. Most individuals will feel the impact of quite a number of taxes during their lifetimes. In addition, taxes have become a powerful instrument for policy makers around the world to use in attaining economic and social goals.
Also, taxation is a system of raising money to fund the government for them to be able to finance activities and projects. The government requires payment from the citizen to pay government officials like police, soldiers, public school teachers, and government workers including the president, his cabinet, the senate, the congress and many more. The money collected is also used to build roads, bridges, highways and other infrastructure, to operate hundreds of public schools and hospitals around the country, to provide help to the poor, to endow elders and children with medical care and for hundreds of other purposes. Without taxation, government could not also exist because they will have no money to use to fund their activities.
The money collected through taxation is called tax. TAX is defined as the lifeblood of the state. It is an enforced proportional contribution levied by the
I. INTRODUCTION
Taxation: Defined
As defined by Cooley, taxation is the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of government. It is expressed in another way as a method of apportioning the cost of government among those who in some measure are privileged to enjoy its benefits and must, therefore, bear its burdens. In order to finance the necessary expenses of the government, there is a need to collect money from those people under its jurisdiction who are also the ones benefiting from the said expenditures.
Taxation is the imposition of a mandatory levy on the citizens and/or the businesses of a country by their government. In almost every country, the government derives a majority of its revenues for financing public services from taxation. Most individuals will feel the impact of quite a number of taxes during their lifetimes. In addition, taxes have become a powerful instrument for policy makers around the world to use in attaining economic and social goals.
Also, taxation is a system of raising money to fund the government for them to be able to finance activities and projects. The government requires payment from the citizen to pay government officials like police, soldiers, public school teachers, and government workers including the president, his cabinet, the senate, the congress and many more. The money collected is also used to build roads, bridges, highways and other infrastructure, to operate hundreds of public schools and hospitals around the country, to provide help to the poor, to endow elders and children with medical care and for hundreds of other purposes. Without taxation, government could not also exist because they will have no money to use to fund their activities.
The money collected through taxation is called tax. TAX is defined as the lifeblood of the state. It is an enforced proportional contribution levied by the
References: de Leon, Hector S. The Law on Income Taxation 13 Ed. Quezon City: Rex Printing Company, Inc.,2009 Johny S. Natad, Local Government Taxatiion in the Phiilliippiines, August 2008 “Taxation: Why is It Important?” at http://www.lawgiants.com/2010/04/taxation-why-is-it-important/ “Taxation and Nation Building” at http://www.studymode.com/essays/Taxation-And-Nation-Building-407600.html “General Principles - Part I” http://philtaxation.blogspot.com/2009/05/basic-principles-of-philippine-taxation.html “Tax in the Philippines” http://businesstips.ph/tax-in-the-philippines/ “Expert says Philippine tax system a ‘complicated mess’at http://business.inquirer .net/10205/expert-says-philippine-tax-system-a%E2%80%98complicated-mess%E2%80%99 “My Opinion On Taxation in Philippines” at http://ireport.cnn.com/docs/DOC-848959