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In Greece
A tax referred to as Eisphora was imposed only in times
of war
In Athens
A monthly tax called Metoikon was collected to
foreigners
resources gained from war were used to refund tax previously collected from the people
History
and exports Augustus Caesar introduced the inheritance tax to provide retirement funds for the military. The tax was five percent on all inheritances except gifts to children and spouses
In England
Taxes were first used as an emergency measure Taxes on income or capital were a recent development as
In the Philippines
The pre-colonial society, being communitarian, did not
have taxes
History
In
base (such as income, property holdings, or a given commodity) A Tax Law is a body of rules passed by the legislature by which the government acquires a claim on tax payers to convey, transfer and pay to the public authority
Definition of Taxation
Taxation is the act of laying a tax..the process or means by which the sovereign, through its law making body raises revenue to defray the necessary expenses of government.
Definition of Taxation
It
is a method of apportioning the cost of government among those who in some measure are privileged to enjoy its benefits and must therefore, bear it burdens.
purpose of taxation on the part of government is to provide funds which to promote the general welfare and protection of its citizens, and to enable it to finance its multifarious activities
Definition of taxes
It is an enforced proportional contribution from persons and property levied by the law making body of the state by virtue of its sovereignty for the support of the government and all public needs.
(1) It is an enforced contribution-A tax is not a voluntary payment or donation and its imposition is in no way dependent upon the will or assent of the persons taxed.
(2) It is generally payable in moneyIt is understood to be a pecuniary burden-an exaction to be discharged alone in money which must be in legal tender.
(1).The power of taxation proceeds upon the theory that the existence of government is a necessity; that it cannot continue without the means to pay its expenses; and that for these means, it has a right to compel all its citizens and property within its limit to contribute.
Aspect of Taxation
(1)
Levying or imposition of the tax which is a legislative in act. Collection of the tax levied which is essential in character
(2)
(2)
(3)
Fiscal Adequacy, which means that the sources of revenue should be sufficient to meet the demands of public expenditure. Equality or theoretical justice, which means that the tax burden should be proportionate to the taxpayer's ability to pay. Administrative feasibility, which means that the tax laws should be capable of convenient, just and effective
Effects of Taxation
Personal
Income Tax which is presumed to fall entirely on the legal taxpayers influences decisions to work, save, and invest. These decisions affect other people. Corporate Income Tax may simply result to lower corporate profits and dividends. It may reduce their income of all owners of property and businesses. The company may move toward raising the prices of their
The legislative branch enacts laws to continually revitalize the taxation policy of the country
BIR
and collection of all national internal revenue taxes, fees and charges so as to promote a sustainable economic growth
whose sources of income is derived from within the Philippines TIN (Taxpayer Identification Number) is required for any individual taxpayer
Reforms:
competitiveness of the Philippines in the region Removal of areas which provide avenues for tax avoidance and abuse Exemption of OFWs from payment of tax for income earned outside the Philippines Simplification of the tax system which encourages payments from tax payers including those from the underground economy
fiscal year that covers an accounting period of 12 months ending on the last day of any month other that December.
Kinds of taxes
Income Tax
Tax on all yearly profits arising form property,
Donors Tax
Tax imposed on donations inter-vivos or those
made between living persons to take effect during the lifetime of the donor.
Estate Tax
Tax on the right of the deceased person to
Kinds of taxes
Excise Tax
Tax applicable to specified goods
weight or volume capacity or any other physical unit of measurement (Specific tax = volume x tax rate) - Alcohol products, petroleum products, tobacco products Ad valorem tax: imposed on certain goods based on selling price or other specified value of the goods (Ad valorem tax = selling price x tax rate) - Mineral products, automobiles
Kinds of taxes
Documentary Tax
Tax on documents, instruments, loan
agreements and papers, agreements evidencing the acceptance, assignments, sale or transfer of an obligation, rights or property incident thereto
Withholding tax
Expanded
withholding tax:
whereby the taxes withheld on certain income payments are intended to equal or at least approximate the tax due of the payer on said income.
Withholding tax
Final
withholding tax:
whereby the amount of income tax withheld by the withholding agent is constituted as a full payment of the income tax due form the payer on the said income. The payer is not required to file an income tax return for the particular income.
passing the burden of the tax to others. A tax can be shifted when the taxpayer is able to obtain a higher price for something he sells or when he pays a lower price for a commodity he purchases.
Tax Evasion
When there is fraud through pretension and the use of other illegal devices to lessen ones taxes, there is tax evasion
Under-declaration of income
Tax Avoidance
It
is the use by the taxpayer of legally permissible means of method in order to avoid or reduce tax liability. It is not punishable by law.
Tax evasion should be applied to the escape from taxation accomplished by breaking the letter of the tax lawdeliberate omission to report a taxable item, Tax avoidance on the other hand, covers escape, accomplished by legal means which may be contrary to the intent of the sponsors of the tax law but nevertheless do not violate the law.