Evolution of Philippine Taxation.
Storyboard Text
- The Evol
- These are taxes, Precious and it is the government's mechanism to raise funds.
- Here's what happened...
- What are these extra amount we are paying for, Juan?
- Why do these taxes did not end when our heroes ripped their Cedulla's off way back
- Taxation During Spanish Era
- Taxation Under the Americans
- Taxation During the Commonwealth Period
- Taxation in the Philippines during Spanish Colonial period has Galleon Trade, forced labor which Male Filipinos were obligated to serve which results to deaths.
- Aquino Regime (1965-1986) Arroyo's (2000-2010)
- Americans aimed to make the economy self-sufficient by running the government with the possible sum revenue and create surplus in the budget. They also implemented the land tax.
- Duterte Regime (2016-Present)
- In 1937, the Cedula Tax was abolished which prepared to be a progressive move. In 1939, the Commonwealth drafted the National Internal Revenue Code which introduced major changes in the new tax system.
- A major reform in the tax system was introduced under the term Aquino - the Value Added Tax (VAT)In 2005, under Arroyo's Regime, the Expanded Value-Added Tax (E-VAT) was sign into law as RA 9337.
- Now, under Duterte's Administration, he vowed to lower income tax rates shouldered by working FIlipinos. The Tax Reform for Acceleration and Inclusion (TRAIN) law was also implemented. The proposed tax reform also seeks to limit VAT exceptions and increase excise tax on petroleum products and automobiles.
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