VALUE ADDED TAX What is Value Added Tax (VAT)? It is a tax on consumption levied on the sale‚ barter‚ exchange‚ or lease of goods or services in the Philippines and on the importation of goods into the Philippines. It is an indirect tax‚ as provided in Section 105 of the NIRC. It is an indirect tax meaning the amount of tax may be shifted on the buyer‚ transferee or lessee of the goods‚ property‚ or services. The Code provides that the tax may be shifted to the consumer‚ most if not at all
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resources is however a complex process involving supply and demand. The trade of goods and services is manifest in the market. Thus‚ the market is an essential part of the society. The society can hardly function without a market where the demands of the people‚ from the most basic necessities to luxury‚ are generally sufficed. Expansion of the market is a goal of a lot of economies. The market is a determinant of the quality and the stability of the economy‚ and the economy is the society’s most physical
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References: 1. Qfinance.com 2. Thesaurus 3. Wikipedia 4. http://www.slideshare.net/KarenAlanSamonte/public-debt-philippines 5. Prof. De Vera’s PFA Slides 6. Theory and Practice of Public Administration in the Philippines (Avelino P. Tendero) 7. http://www.mb.com.ph/node/246360/palace- 8. http://grbusinessonline.com/wp/?p=1064 9. http://ph.politicalarena.com/home/noynoy 10. http://www.philstar.com/Article.aspx?articleId=786172&publicationSubCategoryId=66
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Philippines’ Economic Development Economic development: the qualitative process of structural change that involves the development of an economy’s economic and social infrastructure. Economic development involves the use of more resources or better quality resources to improve real increases in the quality of life of society. The construction of roads‚ railways‚ schools‚ hospitals‚ universities‚ dams‚ bridges‚ factories‚ power plants‚ ports and airport facilities are examples. Statistics: 1980
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structure compared to other institutions (Educational and Religious) * Funds that they supply to the different markets do not originate totally from them but some come from the public source. * Their vast activities interlinked with the activities of other business organizations. * They are part of different aspects of the use and need of Financial Resources. INSTITUTIONS IN THE PHILIPPINE FINANCIAL SYSTEM (As classified by The Bangko Sentral ng Pilipinas) I. Bank Financial Institutions
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A. Andres Bonifacio(1863-1897) BIOGRAPHY Andres Bonifacio was born on November 30‚ 1863 to Santiago Bonifacio and Catalina de Castro in Tondo in Manila‚ Philippines. He was a Filipino revolutionary hero who founded the Katipunan‚ a secret society devoted to fighting Spanish occupation of the Philippines. | Bonifacio’s early education started in the Guillermo Osmena School. But‚ unfortunately‚ his parents died when he was 14 years old. This forced him to quit studies and look after his younger
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director William Gaud‚ who noted the spread of the new technologies: The Green Revolution in the 1960s up to the early part of the 1980s was one of the major factors that enabled the Philippines not only to be self-sufficient in rice but also to export some of it to neighboring countries in 1977-78. There is no reason why the Philippines‚ with its natural resources‚ trained manpower and favorable climate‚ cannot replicate the Green Revolution and finally attain rice self-sufficiency. The rice experts stressed
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The Weak Agricultural Sector of the Philippines: Case Study on the Sugar Industry in Negros Occidental Trade Liberalization: Free Trade vs. Fair Trade In theory Trade Liberalization is supposed to bring about greater productivity and improve resource allocation which in effect stimulates economic activity and improves long term welfare. Using the policy of free trade there is an elimination of trade barriers such as taxes‚ tariffs and import quotas. Subsidies‚ tax breaks and other support to domestic
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Philippine Economy at Present During 1960’s the Philippine economy has experienced repeated boom-and-bust cycles in the 5 decades since the nation achieved independence from the United States. In 1960s its economy ranked as the second most progressive in Asia‚ next to that of Japan. After 1965‚ when Ferdinand E. Marcos became president‚ the nation experienced economic problems and social unrest‚ especially from the 1970s‚ when corruption and cronyism (the practice of appointing friends to well-paid
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“DOT’s “It’s More Fun in the Philippines” tourism campaign lauded.” I do commend the Department of Tourism for coming up with the “It’s More Fun in The Philippines campaign. They are trying to hype up the tourism in the Philippines‚ yes. However‚ In all honesty‚ I don’t see much of the advertisements around. I remember before when the Tourism in the Philippines centered around the phrase “Wow Philippines”. Along Roxas boulevard‚ flew tarpaulins and signs that had that exact phrase. As you got
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