Taxes in the Philippines are imposed at the national and local levels. At the national level, taxes are imposed and collected pursuant to the National Internal Revenue Code, the Tariff and Customs Code, and several special laws. There are four main types of national internal revenue taxes: income, indirect (value-added and percentage taxes), excise...
Although economic headwinds have thrown international markets off course, the Philippine economy has managed to stay on a relatively even keel. Local authorities note that while GDP growth slowed in 2011 relative to 2010 due to weak external demand and government underspending, household
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