12:10 PM
philtaxation
Limitations of taxing powerWhile the power does not emanate from a grant, as the same is necessarily inherent upon the existence of the state, exercise of the power is subject to those limitations inherent upon it and those expressly provided for by the Constitution as follows:Inherent limitations. These limitations are those limitations that emanates from the very nature of the power of taxation. They are very basic and are built-in with the power. Some may be similar to the constitutional limitation but the constitutional limitation seems to be supreme as they are the most specific, thus, specifically intended to rule the application or exercise of the power of taxation. Hereunder are the INHERENT LIMITATIONS:• Levy for public purpose. To levy a tax means to impose or to charge or to collect...
Friday, May 29, 2009
Thursday, May 28, 2009
Sex Video: Tax if Hayden Kho extra-judicially settles with Katrina Halili - No VIDEO download!
On this post, let us try to explore on another interesting application of Philippine tax rules in connection with the country's hottest sex video in town. Beforehand however, let me take the opportunity to share my personal views on the event. Personally, it is with my deep regret that the same had came out and the same is hereby condemned. It is totally unnecessary and constitutes a culpable misconduct of an ethical professional to completely disregard the chastity and delicate feelings and personality of those involved. As other put it, ito ay PAMBABABOY. Of course, it may well happen that intimate happenings come across lovers brought about...
Manny “Pacman” Pacquiao: Tax on boxing awards and prizes
With the duly concluded fight with Ricky Hatton and with the advent of his historic fights throughout the last decade, Manny "pacman" Pacquiao proves to be the Greatest of them all and the Pound for Pound King in the boxing arena. The question commonly being posed is, what keeps Pacman a great Fighter of his time? Based on my personal observations, it is undeniable that Pacman is a faithful Roman Catholic and God fearing, a true Pinoy characteristic. He does not fight with his own strength alone, but he fights along with His creator above. This is evident prior to the commencement and at the end of every brave fight in the prestigious boxing...
Wednesday, May 27, 2009
General Principles - Part I
Nature of the power to tax, purpose, and scopeTaxation is the act of levying the tax, i.e., the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of the government. It is merely a way of apportioning the cost if the government among those who in some measures are privileged to enjoy its benefits and, therefore, must bear its burdens. (71 Am Jur. 2nd 342; 1 Cooley 72-73). Tax is defined as the lifeblood of the government. Major revenue of the government is sourced from taxation so that in the most pressing times of financial and economic crisis, the agency authorized to administer taxes – the Bureau of Internal Revenue (BIR) should always be on the front line. As a matter of fact, BIR nowadays are becoming stricter in the...
