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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
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This document was uploaded on 01/27/2014.
- Winter '13