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What is Philippine Income Tax Systems Explained about?
The global tax system imposes a single tax on all income regardless of source. It emphasizes burden allocation and is the most equitable system. Administration is not easy as all income sources must be considered. The schedular system taxes different income types, like salaries and business income, at different rates. It focuses on income type rather than taxpayer characteristics. Administration is simpler as each transaction is considered separately. The Philippine system has both global and schedular e
- Author
- John Elbert Falsis
- Language
- EN