Moreover the center can only provide limited

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Unformatted text preview: revenue and improving revenue generation mechanisms from different sources is thus crucial for a financially viable and sustained service delivery in Olongapo. The next chapter looks more closely at the present structure and mechanisms of property and business tax and identifies areas for improvement. 4. REVENUE MOBILIZATION VIA TAXES FOR OLONGAPO CITY The Philippines government adopted the Local Government Code of 1991 under a broader decentralization agenda. As noted earlier the implementation of the Code has led to devolution of functions previously performed by the center, and it requires the local government units to be responsive to their fiscal needs. The 1991 LGC provides an extensive framework to utilize a mix of taxes to be adopted by the local planning council. In keeping with the centralized orientation of Philippines finance systems rate ceilings are imposed on taxes. While the Code gives the local governments the power to create their own sources of revenue, it also states...
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This document was uploaded on 01/27/2014.

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