PUBFIN REVIWER

It is based on the assumption that as far as national development is concerned, neither the national or local government can do it alone.

• Supervisory authority

• Decentralization

• Concept of Partnership

Under the local government tax, the following are levied by provinces except:

• Tax on transfer of ownership (donation, sale, barter) over real property

• Fees for sealing and licensing of weights and measures

• Franchise Tax

• Annual professional tax(practice of profession requiring examination)

Statement 1: Real properties are categorized into residential, agricultural, commercial, industrial minerals, apparently for the purpose of fixing proportionately higher assessment levels for properties put into more productive use. Statement 2: Cities do not levy all taxes, fees and charges that may be imposed by the province or municipality, however, those levied by highly urbanized cities and independent component cities accrua exclusively to them.

• Statement one is false while statement two is true.

• Statement two is true while statement one is false.

• Both statements are false

• Both statements are true.

It prescribes the preparation of the statement of income and expenditures in accordance with its mandate to maintain financial information on all LGUS.

• Bureau of Treasury.

• Department of Finance.

• Bureau of Local Government Finance.

• Department of Budget and Management.

It focuses on serving the primary needs and protecting the rights of women, children, the elderly, persons with disability, indigenous communities and informal settlers

• Social safety

• Social Security

• social protection.

• Social preparedness.

It is usually a response to demands for more local origin, regional autonomy to which government officials in the central government reluctantly accedes.

• devolution

• decentralization

• concentration.

While tax rates were increased and the sharing schemes between And among different levels of local governments were readjusted. There actually was no new taxing power devolved.

• Real property taxation.

• taxing and revenue raising powers.

• Internal Revenue allotment.

We're expect local governments in addressing their local concerns with this principle because they have superior competence they know best.

• Principle of decentralization.

• Principle of devolution

• Principle of localism

• Principle of subsidiarity.

They increase share for brown guys with encourage them to exert more tax collection effort, and the lifting of real property tax exemptions of government corporations may collide with the Government of encouraging Corporations to engage in exploration of alternative sources of energy.

• Internal Revenue allotment.

• Local budgeting.

• Taxing and revenue raising powers

• Financial management capability.

.The use of this technology has been time and again recommended to improve the tax inform system, but not many LGUs have acquired the technology to employ the technique.

• Geography account system.

• Information Technology System.

• Geographic information system

• tax distribution system.