While the code gives the local governments the power

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Unformatted text preview: that taxes, fees and charges can only be levied subject to provisions in the Code16 . The main sources of local tax for the city of Olongapo are property tax and business. Since Olongapo has officially adopted the highest rate structure for property and business tax provided in the Code, revenue increase is dependent on local government tax efforts and the revised assessments of the City's tax base. The next section examines some of the reasons why the City has failed to utilize these strategies to maximize its tax revenue. It looks into the specifics of property and business tax structure and their administration with respect to revenue generation. I identify problems and limitations of the present system and consider how they might be addressed based on international experiences. The tax framework subsections briefly explain the structural limits of property and business taxes as defined under the Code within which the City operates to raise its revenue. It also identifies some of the positive features inherent within the system. The problem subsection outline...
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This document was uploaded on 01/27/2014.

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