Philippine Taxation

Philippine taxation is the process by which the government collects money from individuals and businesses to fund public services like education, healthcare, and infrastructure. Taxes are categorized mainly into income tax (on earnings), value-added tax (on goods and services), and property tax (on real estate). Each type has specific rates and regulations. The Bureau of Internal Revenue (BIR) is the main agency responsible for tax collection. Citizens and companies are expected to file their taxes accurately and on time to avoid penalties, ensuring that the government has the necessary funds to operate and provide services.