Hi Folks. Good morning! I am Joliever Villanueva and I apologize for not knowing your names as well.
Traveling to discuss the nature of the power of taxation is significant in understanding Sovereignty. Sovereignty, also known as Karapatang Mamahala, is crucial for every government and it pertains to taxation because the power of taxation is innate in Sovereignty. So, why does taxation hold importance? It holds importance because taxes serve as the means to generate funds utilized for constructing public institutions and services such as schools, hospitals, and roads. Even in the absence of a written law regarding taxation, the government retains the ability to impose taxes. Nonetheless, if taxation is implemented through the constitution, it transforms into legislation.
The power to enforce taxes is solely held by the legislative branch of government, excluding the executive and judicial branches. Therefore, only Congress, as part of the legi
...slative branch, has the authority to impose taxes. Moreover, local governments have constitutional authorization to levy taxes; however, they must follow specific regulations and limitations set forth by law.
It is capable of constitutional and built-in restrictions. The power of revenue enhancement is subject to certain restrictions. Most of these restrictions are specifically provided in the cardinal law or implied therefrom, while the remainder stem from the taxing power itself. In the Philippines, our tax system is guided by cardinal jurisprudence, which means it also has restrictions and evidences. =Sir do you have anything to add or share with us regarding this topic?
Basic Principles of a Sound Tax System
Sound Tax System
- Fiscal Adequacy
- Equality or theoretical justness.
- Administration Feasibility
(We can determine that our tax system is sound or stron
if these three basic principles are present in our government.)
If one of them is losing the revenue enhancement system would be weak hence our economic system will fall in.
What are these Principles
1. Fiscal Adequacy. Is a rule that states the starting point of gross should be enough to meet the needs of public expenses = for example, the government needs a hundred million for public expenditure or to build schools. Our taxation system should be capable of providing the required amount of money from taxes.
Equality or theoretical justness refers to the concept that the tax burden should be proportional to an individual's ability to pay. This principle is commonly known as the Ability to pay rule, which proposes that a person's tax liability should be equitable in comparison to the average taxpayer.
For instance,
Taxpayer A, who is unmarried, will have a higher tax payment compared to Taxpayer B, who has three dependents. Administrative feasibility implies that tax regulations should be user-friendly and easily manageable.
Merely an efficient disposal. Thank you. I firmly believe that having a state of taxpayers who faithfully pay their taxes ensures a thriving economy for everyone to enjoy. Thank you. End of my report.
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