Taxation docx
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FAR-0-Bank-Recon-and-Proof-of-Cash-Drill-Problems
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- AD VALOREM TAX
- PROGRESSIVE OR GRADUATED TAX
- PROGRESSIVE SYSTEM OF TAXATION
- EQUALITY OR THEORETICAL JUSTICE
| AS TO SCOPE OF THE TAX 1. NATIONAL TAX - imposed by the national government. 2. LOCAL TAX - imposed by municipal corporations or local government units (LGUs). AS TO THE DETERMINATION OF AMOUNT 1. SPECIFIC TAX - tax of a fixed amount imposed by the head or number or by some other standard of weight or measurement. 2. AD VALOREM TAX – tax of a fixed proportion of the value of the property with respect to which the taxis assessed. AS TO GRADATION OR RATE 1. PROPORTIONAL TAX – tax based on a fixed percentage of the amount of the property receipts or other basis to be taxed. Example real estate tax. 2. PROGRESSIVE OR GRADUATED TAX - rate of which increases as the tax base or bracket increases 3. REGRESSIVE TAX - rate of which decreases as the tax base or bracket increases. There is no such tax in the Philippines. TAX SYSTEM - Constitutional mandate - The rule of taxation shall be uniform and equitable. The Congress shall evolve a progressive system of taxation. Section 28(1), Article VI, Constitution] PROGRESSIVE SYSTEM OF TAXATION - tax laws shall place emphasis on direct taxes rather than on indirect taxes, with ability to pay as the principal criterion. REGRESSIVE SYSTEM OF TAXATION - exists when there are more indirect taxes imposed than direct taxes. Three Basic Principle Of A Sound Tax System FISCAL ADEQUEACY - sources of revenue should be sufficient to meet the demands of public expenditures EQUALITY OR THEORETICAL JUSTICE - tax burden should be proportionate to the taxpayer’s ability to pay. This is the so-called ability to pay principle.” ADMINISTRATIVE FEASIBILITY - tax laws should be capable of convenient, just and effective administration. Download 74.27 Kb. Share with your friends:
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