Mark Jowell L.

Ordoa BSN III-A Health-Economics

DOi grants tax incentives tO 8 prOjects wOrth 7B

Taxation is one of the main branches of Economics. It refers to the means b which funds are raised for the operations of the government, especially public services. In developing countries like Philippines, more funds are needed for social and economic infrastructures such as roads, bridges, transportation and communication facilities, schools, hospitals, and electrification and irrigation system. Imposed in the same country of the common taxes or Expanded value added tax (E-VAT), community tax, and income taxes. According to the article, the BOI or Board of Investments has approved the granting of the perks to 8 projects involved in mass housing. This is due to the government policy which is to give tax incentives to some of the business or economic activities to help them grow. Such as business projects can greatly affect and contribute to our economy. Year after year, taxes can be collected from those who will reside at the said housing projects. The tax collected from t he residents are called Residence tax and classified as Direct tax. Collected tax refers to what we called Revenues which is collected by the Bureau of Internal Revenue or BIR. Those collected tax will be then used by the government for further projects and programs. Tax incentives, tax perks or tax exemptions are termed used exchangeable which means tax doesnt have to be paid.