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Poverty in the Philippines. In 2021, official government statistics reported that the Philippines had a poverty rate of 18.1%, [1] (or roughly 19.99 million Filipinos), significantly lower than the 49.2 percent recorded in 1985 through years of government poverty reduction efforts. [2]
Economic history of the Philippines (1965–1986) Real GDP per capita development of the Philippines, 1965 to 1986. The 21-year period of Philippine economic history during Ferdinand Marcos’ regime – from his election in 1965 until he was ousted by the People Power Revolution in 1986 – was a period of significant economic lows. [1] [2] [3 ...
Philippines. A community tax certificate ( Filipino: sertípiko ng buwís pampámayanan) or sédula (from Spanish cédula ), sometimes confused as residence certificate, is a legal identity document in the Philippines.
The Philippine Health Insurance Corporation ( PhilHealth) was created in 1995 to implement universal health coverage in the Philippines. It is a tax-exempt, government-owned and controlled corporation (GOCC) of the Philippines, and is attached to the Department of Health. On August 4, 1969, Republic Act 6111 or the Philippine Medical Care Act ...
According to World Bank data, the Philippines is considered to be a "lower middle income" country, defined as countries that have a per capita GNI between $1,026 and $3,995. As of 2018, by gross domestic product Purchasing Power Parity (GDP PPP), the Philippines is ranked 27th in the world with a GDP PPP of 952,967 international dollars . [7]
The Bureau of Internal Revenue [2] ( Filipino: Kawanihan ng Rentas Internas, or BIR) is a revenue service for the Philippine government, which is responsible for collecting more than half of the total tax revenues of the government. It is an agency of the Department of Finance and it is led by a Commissioner.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
Citizens of the Philippines and resident aliens must pay taxes for all income they have derived from various sources, which include, but are not limited to: compensation income (e.g., salary and wages ); income of self-employed individuals and/or professionals; capital gains; interests; rents; royalties;
Income inequality in the Philippines is the extent to which income, most commonly measured by household or individual, is distributed in an uneven manner in the Philippines.
The Philippines, officially the Republic of the Philippines, is an ... to 18.1 percent in 2021, and its income inequality began to decline in 2012.