Topic 11: TAXATION Flashcards
The tax system during Spanish colonization where labor services were mandatory for Filipino males.
Polo y Servicios
The law passed during the American period to regulate land titles and address land ownership issues.
Land Registration Act of 1902
The primary purpose of taxation according to Philippine fiscal policy.
To defray government expenses and promote citizen welfare
The reform introduced during the Commonwealth period that abolished the cedula tax.
National Internal Revenue Code
The tax reform program that introduced VAT under President Corazon Aquino.
1986 Tax Reform Program
The tax reform program under President Ramos aimed at modernizing the tax system.
Comprehensive Tax Reform Program
The colonial administration that introduced income tax in the Philippines.
American Colonial Period
The type of tax that was dominant under the Marcos regime.
Indirect taxes
The priority reform in property valuation under President Ferdinand Marcos Jr.
Real Property Valuation and Assessment Reform
The 1913 legislation that reduced tariffs on American products in the Philippines.
Underwood-Simmons Tariff Act
The tax system reform that introduced a progressive tax on luxury goods.
Commonwealth Period Tax Reforms
The tax introduced to generate revenue for government programs in 1932.
National Lottery
The reform enacted during President Duterte’s administration to lower personal income tax rates.
Tax Reform for Acceleration and Inclusion (TRAIN)
The primary source of revenue during Japanese occupation.
Amusements, business licenses, and manufacturing
The year the Philippines gained independence and fiscal policy transitioned.
1946
The agency responsible for tax collection and policy reforms in the Philippines.
Department of Finance (DOF)
The tax reform during the Marcos regime aimed at promoting indirect taxation.
Regressive Tax Policy
The colonial power that replaced urban taxes with land taxes.
American Colonial Government
The key taxation reform introduced in 1940 during the Commonwealth era.
Residence tax
The revenue law that merged tax collection with customs duties during World War II.
Bureau of Internal Revenue Law
TRUE or FALSE
The polo system required Filipinos to serve for 40 days annually during Spanish colonization.
True
TRUE or FALSE
Income tax was introduced in the Philippines under Japanese colonization.
False (It was introduced under the Americans.)
TRUE or FALSE
The Value Added Tax was a feature of the Comprehensive Tax Reform Program.
False (It was introduced during President Corazon Aquino’s administration.)
TRUE or FALSE
President Duterte’s TRAIN law simplified tax collection.
True
TRUE or FALSE
Indirect taxes were the main source of revenue during President Marcos’ term.
True
TRUE or FALSE
The Underwood-Simmons Tariff Act promoted free trade between the Philippines and the U.S.
True
TRUE or FALSE
Japanese forces exempted their goods from taxes during World War II.
True
TRUE or FALSE
The Commonwealth government implemented a progressive tax system on luxuries.
True
TRUE or FALSE
Taxation remained regressive during President Ramos’ administration.
False
TRUE or FALSE
Direct taxes dominated fiscal policy during the American era.
True
