Section 15 Bangsamoro Taxes and Revenue Code The Bangsamoro Parliament shall

Section 15 bangsamoro taxes and revenue code the

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Section 15. Bangsamoro Taxes and Revenue Code. The Bangsamoro Parliament shall enact a Bangsamoro Tax Code, which shall cover the taxing powers of the Bangsamoro Government. Section 16. Fees and Charges . The Bangsamoro shall exercise the power to levy fees and charges pursuant to the powers and functions that it shall exercise in accordance with this Basic Law, including the powers already granted under Republic Act. No. 6734, RA 9054 and other executive issuances, and memoranda of agreement.
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73 Block Grant Section 17. Annual Block Grant . With the Bangsamoro enjoying the maximum form of fiscal autonomy as provided in Section 1 of this Article , the Central Government shall provide an annual block grant which shall be the share of the Bangsamoro in the national internal revenue of the Government. The amount shall be sufficient for the exercise of the powers and functions of the Bangsamoro Government under this Basic Law and in no case to be less than the last budget received by the Autonomous Region in Muslim Mindanao immediately before the establishment of the Bangsamoro Transition Authority. Section 18. Formula of the Block Grant . For the budget year immediately following the year this Act takes effect, the amount of the block grant shall be equivalent to Six Percent (6%) of the net national internal revenue collection of Bureau of Internal Revenue and of the Bureau of Customs. For purposes of this Section, the net national internal revenue collection of the Bureau of Internal revenue is understood to be the sum of all internal revenue tax collections during the base year less the internal revenue allotment of local government units, as well as, the amount released during the same year for tax refunds, payments for informer’s reward, and any portion of internal revenue tax collections which are presently set aside, or hereafter earmarked under special laws for payment to third persons. Provided, that the computation shall be based on collections from the third fiscal year preceding the current fiscal year; Provided, further, that the above formula shall be adjusted if, after the effectivity of this Act, there occurs a change in the total land area of the Bangsamoro. Section 19. Automatic Appropriation . The annual block grant shall be automatically appropriated to the Bangsamoro Government and reflected in the General Appropriations Act.
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74 The Bangsamoro Parliament shall pass an annual appropriations law that allocates the block grant to various agencies and programs, according to the powers and functions of the Bangsamoro Government. The Bangsamoro annual appropriations law may also include performance standards and targets for each sector. An y unspent amount in the current year’s block grant shall revert to the Bangsamoro general fund for re-appropriation.
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  • Fall '16
  • Dean Lilybeth Libiran
  • Government, Member of Parliament, Parliament of the United Kingdom, European Parliament, Bangsamoro, Bangsamoro Government

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