Taxation

Good Essays
Topics: Tax
charges shall accrue exclusively to the local go e e ts.

GENERAL PRINCIPLES OF TAXATION

Pepsi Cola v. Municipality of Tanauan: Legislati e powers may be delegated to local governments in respect of matters of local concern. This is sanctioned by immemorial practice. By necessary implication, the legislative power to create political corporations for purposes of local self-government carries with it the power to confer on such local governmental agencies the power to ta .

A. Taxation
a. Definition
i. It is the power by which the sovereign raises revenue to defray the expenses of the government. It is a way of apportioning the cost of government among those who in some measure are privileged to enjoy its benefits and must bear its burden.

Quezon City v. ABS-CBN: Mu i ipal Co po atio has a general power to levy taxes and otherwise create sources of revenue. They no longer have to wait for the statutory grant for these powers. The taxing power of the local government is limited in the sense that Congress can enact legislation granting exemptions. b. Nature of the Power of Taxation
i. The power to tax is an attribute of sovereignty. It is inherent in the State. As an incident of sovereignty, the power to tax has ee des i ed as u li ited i its a ge, a k o ledgi g i its very nature no limits, so that security against its abuse is to be found only in the responsibility of the legislature which imposes the tax on the constituency who are to pay it. (MCIAA v. Marcos)



ii. Taxes are the lifeblood of the government. Without taxes, the government can neither exist nor endure. The exercise of taxing power derives its source from the very existence of the State whose social contract with its citizens obliges it to promote public interest and the common good. (CREBA v. Romulo) iii. The power of taxation is an essential and inherent attribute of sovereignty, belonging as a matter of right to every independent government, without being expressly conferred by the
people.

You May Also Find These Documents Helpful

  • Good Essays

    Taxation

    • 1683 Words
    • 7 Pages

    TAXATION * It is a means by which governments finance their expenditure by imposing charges on citizens and corporate entities. * Governments use taxation to encourage or discourage certain economic decisions. For example, reduction in taxable personal (or household) income by the amount paid as interest on home mortgage loans results in greater construction activity, and generates more jobs. See also taxation principles. * Taxation refers to the act of a taxing authority actually levying…

    • 1683 Words
    • 7 Pages
    Good Essays
  • Powerful Essays

    Taxation

    • 2407 Words
    • 10 Pages

    Introduction: This report is to find out whether the tax avoidance arrangements exists in the situation of taxpayers restructured their business as a trading trust for the purposes of section BG1 of the Income Tax Act 2007. Issue: Mr A and Mr B, two independent shareholders work full time in the IT Consultancy business. They were paid $80,000 salary each in the first year but decreased to $50,000 in the second year because business has gone down due to earthquake. They had received a dividend…

    • 2407 Words
    • 10 Pages
    Powerful Essays
  • Best Essays

    Taxation

    • 2707 Words
    • 11 Pages

    [Name]: YuPei [TP Number]: TP024726 [Intake Number]: UC2F1303AF {FI} [Subject Code]: Introduction to Taxation [Lecturer’s name]: KHO GUAN KHAI [Assignment title]: Individual Assignment [Date of Submission]: 31st May 2013 Context Introduction…………………………………………..1 Personal Income Tax ……………………………..1 Tax rate……………………………………………......3 Tax relief ……………………………………………....4 Personal income tax relief……………………..5 Tax rebate…………………………………………….. 7 Taxable income and tax liability‘s calculated…

    • 2707 Words
    • 11 Pages
    Best Essays
  • Good Essays

    Taxation

    • 863 Words
    • 3 Pages

    today the rate of chronic diseases have skyrocketed, we need to come up with a solution to make healthier food available to the population. Although junk good producers may find that the tax is unfair. The overall result of taxation is to improve the health of our nation. If taxation of fast food was a reality today it will ultimately motivate producers and sellers to improve their products and provide the consumers with better options. The increased percent of obesity amongst Americans is alarming…

    • 863 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Taxation

    • 623 Words
    • 3 Pages

    Commissioner vs. Pineda, 21 SCRA 105 When Atanasio Pineda died, his estate was divided among his wife and their 15 children. The eldest among the 15 children, Atty. Manuel Pineda had a share of P2,500 but the BIR found out that the income tax return of the estate for the years 1945, 1946, 1947 and 1948 was not filed, so the collector of Internal Revenue issued an assessment and charged the full amount to the inheritance. The issue here is, can the Bureau of Internal Revenue collect the full amount…

    • 623 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Taxation

    • 1580 Words
    • 7 Pages

    Taxation should be equal According the definition taxes are the sum of money demanded by a government for its support or for specific facilities. The government demands money from everyone not just some one but there are some who don’t seem to go pay the fair amount as everyone else. Taxation has also been a big part with the current recession. Our government is investing in defense, using out money when more should go into social programs. Cuts have been made in different programs because of…

    • 1580 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Taxation

    • 20977 Words
    • 84 Pages

    TAXATION LAW I. General Principles POWER OF TAXATION TAXATION – power by which the sovereign through its law-making body raises revenue to defray the necessary expenses of government from among those who in some measure are privileged to enjoy its benefits and must bear its burdens. Two Fold Nature of the Power of Taxation 1. It is an inherent attribute of sovereignty 2. It is legislative in character Extent of Taxing Power Subject to constitutional and inherent restrictions…

    • 20977 Words
    • 84 Pages
    Good Essays
  • Powerful Essays

    Taxation

    • 3020 Words
    • 13 Pages

    [2008] NZSC 115; [2009] 2 NZLR 289; (2009) 24 NZTC 23, 188 (SC). BNZ Investments Ltd v Commissioner of Inland Revenue (2009) 24 NZTC 23,582 (HC). Books and Chapters in books Robert Vosslamber New Zealand Taxation 2013 (1thed, Brookers Ltd, Wellington, 2013). [ 4 ]. Robert VosslamberNew Zealand Taxation 2013 (1thed, Brookers Ltd, Wellington, 2013) at [24.8.2].…

    • 3020 Words
    • 13 Pages
    Powerful Essays
  • Good Essays

    Taxation

    • 1848 Words
    • 6 Pages

    TAXATION An involuntary fee levied on corporations or individuals that is enforced by a level of government in order to finance government activities. TAXES Compulsory monetary contribution to the state's revenue, assessed and imposed by a government on the activities, enjoyment, expenditure, income, occupation, privilege, property, etc., of individuals and organizations. A fee charged ("levied") by a government on a product, income, or activity. If tax is levied directly on personal or corporate…

    • 1848 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    Taxation

    • 7230 Words
    • 29 Pages

    International Journal of Accounting and Financial Reporting ISSN 2162-3082 2012, Vol. 2, No. 2 Analysis of Tax Formation and Impact on Economic Growth in Nigeria Ebiringa, O.T (Corresponding author) Management Technology Federal University of Technology, Owerri, Nigeria E-mail: otebiringa@yahoo.com Emeh Yadirichukwu Department of Accounting Federal Polytechnic Nekede, Owerri, Nigeria E-mail: diriolisa@yahoo.com Received: October 17, 2012 Accepted: December 13, 2012 DOI: 10.5296/ijafr…

    • 7230 Words
    • 29 Pages
    Powerful Essays