ECONOMICS 3

Taxes levied by the government on the income and wealth received by households and businesses in order to raise government revenue and are used as instruments of fiscal policy

Direct Taxes

Taxes levied by government on goods and services in order to raise government revenue and are used as instruments of fiscal policy these are not taxes on people, but on the goods and services that we purchase and consume 

Indirect Taxes

 the taxes should be just enough to generate revenue required for provision of essential public services like health

Adequacy

Education, and national defense and police protection must generated revenue greater than the amount of money the government must spend to collect taxes.

Efficiency

Individual and groups belonging to the same income bracket must be taxed equally while belonging to different income groups must be taxed differently.

Equity

to set up measures and procedures that will make it more convenient for taxpayers to pay.

Convenience

taxes should not favor any one group or sector over another, and should not be designed to interfere with or influence individual decision making 

Neutrality

A Philippine state policy that ensures and promotes welfare of landless farmers and farm workers, as well as elevation of social justice and equity among rural areas.

LAND REFORM

Aimed for a nation with equitable land ownership an empowered agrarian reform beneficiary while, at least, improving social lives. 

CARP was established by the comprehensive Agrarian Reform Law of 1988 (CARL).

duly registered association of persons with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end, making equitable to contribution to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative 

Cooperative

Promotes thrift and savings among its members and creates funds in order to grant loans for productivity.

Credit Cooperative

 The primary purpose is to procure and distribute commodities to member and non-members.

Consumer Cooperative

 Undertakes joint production whether agricultural industrial.

Producers Cooperative

Engages in medical, and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication and other services. 

Service Cooperative

combines two (2) or more of the business activities of these different types of cooperatives.

Multi-Purpose Cooperative