Bill Type
Congress Name
Long Title
FULL TITLE : AN ACT REGULATING THE IMPOSITION OF NATIONAL TAXES TO BE PROPORTIONAL TO ACTUAL GOVERNMENT SPENDING
Text as filed (link)
Date filed
January 17, 2017
Scope
Legislative History
| House Bill/Resolution NO. HB04755 | |
| FULL TITLE : AN ACT REGULATING THE IMPOSITION OF NATIONAL TAXES TO BE PROPORTIONAL TO ACTUAL GOVERNMENT SPENDING | |
| SHORT TITLE : "ultimate Tax Reform Act" | |
| ABSTRACT : Defines " Absorptive Capacity Benchmark " which shall refer to the percentage of unused appropriations of the annual national budget divided by the total amount of appropriations available for any given year. Mandates the DOF,in cooperation with the BIR and the BSP, to set a threshold absorptive capacity benchmark, which is reflective of the sufficiency of tax collection measures. Provides for the proportionality of new tax measures with tax collection. | |
| PRINCIPAL AUTHOR/S : ROQUE, HARRY L. | |
| DATE FILED : 2017-01-17 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Bravo (M.) (079 2017-03-07) | 2. Nieto (020 2017-09-07) |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2017-01-18 |
Abstract
Defines " Absorptive Capacity Benchmark " which shall refer to the percentage of unused appropriations of the annual national budget divided by the total amount of appropriations available for any given year. Mandates the DOF,in cooperation with the BIR and the BSP, to set a threshold absorptive capacity benchmark, which is reflective of the sufficiency of tax collection measures. Provides for the proportionality of new tax measures with tax collection
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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.