Jeremeh C.

Pande BSIT 301A

05 Essay 1

1. What particular era or presidency has a good form of taxation?

The particular presidency with a good form of taxation is Duterte’s administration.

It provides a lot of benefit to the Filipinos and lessens the number of poor people.

President Duterte eventually signed into law the tax reform bill earlier on Tuesday,

December 19, 2017. The Tax Reform for Acceleration and Inclusion bill (TRAIN) would

change the country’s 20-year-old tax structure, to make the tax system fairer and

simpler. The Ambitious Tax Reform Package of the Department of Finance is part of the

Dutertenomics initiative. It aims to offer relief to 99 per cent of tax-paying employees in

the Philippines by reducing their monthly income taxes lessening the overall tax burden

of the poor and the middle class. It would redesign the country's tax system to make it

fairer, more effective and simpler. At the same time, it will help the government collect

the money it needs to invest more in the country's infrastructure and people. On the

other hand, although it decreases the income tax obligations of all working people, it

raises the excise duty on petrol. The goal of the tax reform is to increase the purchasing

power of the Filipinos by providing a greater take-home pay for 99 per cent of the

working Filipinos. With more cash on hand, the finances would be a little less

complicated for the Filipinos to keep up with.

 2. What will happen if our country does not have a system of taxation?

Taxation is that in return for the general benefits and protection afforded by the

government to the taxpayer and his or her land, charges are levied to sustain the

government. The life of government is a requirement that cannot survive without

financial resources to cover its costs, so the government has the right to force all people

and property to share its costs within its limits. As a way of increasing revenue,

governments levy charges on their people and corporations, which are then used to

fulfill their budgetary demands. This entails funding public and government programs,

as well as making the country's market climate conducive to economic development.

Without taxation, it would be difficult for governments to fulfill the demands of their

populations. Taxes are important because this revenue is collected by governments and

used to support social programs. The government's contributions to the health sector

will be unlikely without taxes. Health programs such as social healthcare, medical

research, social security, etc. are provided by taxation. One of the worthiest

beneficiaries of tax money may be education. Governments have placed a great deal of

emphasis on human capital growth, and education is essential to this development. Tax

revenue is channeled into supporting, furnishing, and sustaining the infrastructure of

public education. In a country, taxes help raise the standard of living. The higher the

standard of living, the greater and higher the most likely level of consumption is.