Tax reforms toward fiscal consolidation asian development bank. Corporate income tax and incentives reform act package 2. An act increasing the excise tax rates imposed on alcohol and. Fifteen percent 15% of the incremental revenue collected from the excise tax on tobacco products under r. Cooperative development authority certain provisions of. Provided, that if the gross income from unrelated trade, business or. Executive order 226 as amended by ra 7888, 7918 and 8756. Proprietary educational institutions and hospitals which are nonprofit shall pay a tax of ten percent 10% on their taxable income except those covered by subsection d hereof. Assimil german with ease pdf download by reachecktugam issuu. With the vat reform in 2005 ra 9337,7 known as the reformed vat law. Deferment of the implementation of ra 9337 supreme court tro and revenue memorandum circular no. Except as otherwise provided in this code, an income tax of thirtyfive percent 35% is hereby imposed upon the taxable income derived.
An act to further defer the imposition of the valueadded tax on certain services, amending for the purpose section 5 of republic act no. Introduction the valueadded tax vat is a tax on consumption levied on the sale, barter, exchange or lease of goods or properties and services, and on importation of goods. Customs modernization and tariff act department of finance. Very recently, a new vat law under republic act 9337 has been implemented as a. Implements the amended provisions on income tax pursuant to ra no. Proposed reforms on valueadded tax national tax research. Ra 9337 was implemented on november 1, 2005 while the increase of the. The new expanded vat law ra 9337 designed to raise additional revenue for the government will be effective starting july 1, 2005, but the swift action aimed.
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