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

Formulates the overall
resources application strategy
to match the government’s
macroeconomic policy;


Prepares the medium-term
expenditure plan, indicating the
programming, prioritization, and
financing of capital investm...


Undertakes the formulation of the
annual national budget in a way
that ensures the appropriate
prioritization and alloc...


Develops and administers a
national accounting system
essential to fiscal
management and control;


Conducts a continuing study of the
bureaucracy and assesses as well as
makes policy recommendation on its
role, size, c...


Establishes the rules and
procedures for the
management of government
organization resources;


Conceptualizes and
administers the government’s
compensation and position
classification plan; and


Monitors and assesses the
physical as well as the financial
operations of local government
units and government-owned
a...
The national budget is the
plan for a country’s expenses for
a given, is prepared with
consultations from the different
de...
After the national budget has
been prepared, it will be
submitted to the Congress of the
Philippines, and the legislative
...
The Constitution of the
Republic specifically gives
Congress the power to approve
the national budget.
Congress will reque...
After the national budget has
been approved, it will be
submitted to the President, and
his approval makes the national
bu...
Commission on
Audit(COA) makes sure that the
money is spent the way it was
appropriated as indicated in the
Philippine Con...
NATIONAL BUDGET CHART
FORMULATION/PREPARATION
EXECUTIVE DEPARTMENT
PRESIDENT AND THE DEPARTMENT OF
BUDGET AND MANAGEMENT
A...
The Commission on
Audit, after studying how the
funds were used, is required to
submit a report to the president
about the...
The way any government
would spend would naturally be
based on the needs and wants of
its populace.
Direct tax - when it is deducted
directly from income; or
Indirect tax - when it is added to
the price of goods and
servic...
PRINCIPLES OF TAXATION
1.

2.
3.

Taxation must be productive.
Taxation must be equitable.
Taxation must be flexible.


Personal Income Taxes –
This are the tax derived from
the income of individuals and
residents of a country.


Corporate Income Tax – This
tax is levied against income but
not of the individual, but the
corporations and
businesses...


Sales Tax – This is the tax for
merchandise or items
bought, sometimes ranging from
3 percent to 4 percent.


Value –Added Tax – This is like
a national sales tax, and it
collects taxes at various stages
of production. Value-adde...


Property Tax – The government
requires an annual tax to be paid
by property owners for each
piece of property(real esta...




Capital Gains Tax – This is a tax
on the income gained from the
sales of real estate and other
capital assets.
Tarif...
1.

A progressive tax increases
as the income increases. This
type of tax is burden for rich.

2.

A regressive tax decrea...
3.

A proportional tax remains the
same regardless of the income
Income that can be taxed
includes
salaries, wages, bonuses, allow
ances, tax reimbursements, and
fringe benefits.
CATEGORY
CATEGORY

EXEMPTION

Single Individuals

P 20,000

Heads of Families

P 25,000

Married Individuals

P 32,000

Fo...
Income tax returns are
filed on or before the fifteenth
day of April of each year and
are usually automatically filed
by t...
Situation 1:
Mr. Gomez who is head of a
family and has three children
earned P 100,000 for the year.
Computation:
Gross Yearly Income:P100,000.00
Less: Exemptions:
25,000.00(as head of
family)
24,000.00(3 children at
P8000
...
This means that the income to be
taxed amounts to P51,000.00. Looking at
our given tax table, we can see that this
amount ...
So let us now compute:

At P51,000 taxable income, the excess
over P30,000 is P21,000. (P51,000 minus
P30,000)
 15% of P2...
Situation 1:
Ms. Bonilla who is individual
earned P95,000 for the year.
Computation:
Gross Yearly Income: P 95,000.00
Less: Exemptions:
20,000.00 (single
individual)
========
Taxable Income:
P75...
This means that the income to be
taxed amounts to P60,000.00. Looking at
our given tax table, we can see that this
amount ...
So let us now compute:

At P75,000 taxable income, the excess
over P70,000 is P5,000. (P75,000 minus
P70,000)
 20% of P5,...
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  1. 1.  Formulates the overall resources application strategy to match the government’s macroeconomic policy;
  2. 2.  Prepares the medium-term expenditure plan, indicating the programming, prioritization, and financing of capital investment and current operating expenditure requirements of medium-term sectoral development plans;
  3. 3.  Undertakes the formulation of the annual national budget in a way that ensures the appropriate prioritization and allocation of funds to support the annual program of government;
  4. 4.  Develops and administers a national accounting system essential to fiscal management and control;
  5. 5.  Conducts a continuing study of the bureaucracy and assesses as well as makes policy recommendation on its role, size, composition, structure and functions to establish a government bureaucracy imbued with a spirit of public service;
  6. 6.  Establishes the rules and procedures for the management of government organization resources;
  7. 7.  Conceptualizes and administers the government’s compensation and position classification plan; and
  8. 8.  Monitors and assesses the physical as well as the financial operations of local government units and government-owned and/or controlled corporations.
  9. 9. The national budget is the plan for a country’s expenses for a given, is prepared with consultations from the different departments of the national government to ensure that the budget designated would be appropriate and sufficient for the needs of the department and its attached offices.
  10. 10. After the national budget has been prepared, it will be submitted to the Congress of the Philippines, and the legislative body will then conduct hearings on the budget, to determine whether the requested amount is justifiable.
  11. 11. The Constitution of the Republic specifically gives Congress the power to approve the national budget. Congress will request the respective department heads and executive officials to attend these hearings and justify the requested funds themselves.
  12. 12. After the national budget has been approved, it will be submitted to the President, and his approval makes the national budget official- will be the basis for how the government will spend its money for a given year.
  13. 13. Commission on Audit(COA) makes sure that the money is spent the way it was appropriated as indicated in the Philippine Constitution.
  14. 14. NATIONAL BUDGET CHART FORMULATION/PREPARATION EXECUTIVE DEPARTMENT PRESIDENT AND THE DEPARTMENT OF BUDGET AND MANAGEMENT APPROVAL/CHECKING LEGISLATIVE DEPARTMENT OR CONGRESS: SENATE AND HOUSE OF REPRESENTATIVES IMPLEMENTATION VARIOUS DEPARTMENTS AND AGENCIES OF THE NATIONAL GOVERNMENT EXAMINATION/AUDITING COMMISSION ON AUDIT
  15. 15. The Commission on Audit, after studying how the funds were used, is required to submit a report to the president about the matter, and recommend measures to ensure better government spending in the future.
  16. 16. The way any government would spend would naturally be based on the needs and wants of its populace.
  17. 17. Direct tax - when it is deducted directly from income; or Indirect tax - when it is added to the price of goods and services, by which it becomes a tax on consumption.
  18. 18. PRINCIPLES OF TAXATION 1. 2. 3. Taxation must be productive. Taxation must be equitable. Taxation must be flexible.
  19. 19.  Personal Income Taxes – This are the tax derived from the income of individuals and residents of a country.
  20. 20.  Corporate Income Tax – This tax is levied against income but not of the individual, but the corporations and businesses, and comes with a different computation.
  21. 21.  Sales Tax – This is the tax for merchandise or items bought, sometimes ranging from 3 percent to 4 percent.
  22. 22.  Value –Added Tax – This is like a national sales tax, and it collects taxes at various stages of production. Value-added tax collects from the production of raw materials to the point of sales.
  23. 23.  Property Tax – The government requires an annual tax to be paid by property owners for each piece of property(real estates and/or building) that they own.
  24. 24.   Capital Gains Tax – This is a tax on the income gained from the sales of real estate and other capital assets. Tariff – This is tax placed on foreign goods that enter a country.
  25. 25. 1. A progressive tax increases as the income increases. This type of tax is burden for rich. 2. A regressive tax decreases as the income increases. This type of tax is a burden for the poor.
  26. 26. 3. A proportional tax remains the same regardless of the income
  27. 27. Income that can be taxed includes salaries, wages, bonuses, allow ances, tax reimbursements, and fringe benefits.
  28. 28. CATEGORY CATEGORY EXEMPTION Single Individuals P 20,000 Heads of Families P 25,000 Married Individuals P 32,000 For Each Dependent (Of Head of Families or Married Individuals) P 8,000
  29. 29. Income tax returns are filed on or before the fifteenth day of April of each year and are usually automatically filed by the employer for the employee.
  30. 30. Situation 1: Mr. Gomez who is head of a family and has three children earned P 100,000 for the year.
  31. 31. Computation: Gross Yearly Income:P100,000.00 Less: Exemptions: 25,000.00(as head of family) 24,000.00(3 children at P8000 for each dependent) ======== Taxable Income: P51,000.00
  32. 32. This means that the income to be taxed amounts to P51,000.00. Looking at our given tax table, we can see that this amount falls under the level Over 30,000 but not over 70,000 The applicable rate for this is P2,500+15% of the excess over P30,000
  33. 33. So let us now compute: At P51,000 taxable income, the excess over P30,000 is P21,000. (P51,000 minus P30,000)  15% of P21,000 is P3,150  P2,500 + P3,150 = P5,650  Mr. Gomez will pay an income tax of P5,650 for the year.
  34. 34. Situation 1: Ms. Bonilla who is individual earned P95,000 for the year.
  35. 35. Computation: Gross Yearly Income: P 95,000.00 Less: Exemptions: 20,000.00 (single individual) ======== Taxable Income: P75,000.00
  36. 36. This means that the income to be taxed amounts to P60,000.00. Looking at our given tax table, we can see that this amount falls under the level Over 70,000 but not over 140,000 The applicable rate for this is P8,500 + 20% of the excess over P70,000
  37. 37. So let us now compute: At P75,000 taxable income, the excess over P70,000 is P5,000. (P75,000 minus P70,000)  20% of P5,000 is P1,000  P8,500 + P1,000 = P9,500  Ms. Bonilla will pay an income tax of P9,500 for the year.

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