Criticisms of the Disbursement Acceleration Program

Criticisms of the Disbursement Acceleration Program

The Disbursement Acceleration Program or DAP was a special budget allocation mechanism introduced by then President Benigno Aquino III in October 2011 to expedite public spending and thus, the initiation and completion of government projects. However, DAP was controversial simply […]

Itemized Deduction vs. Optional Standard Deduction

Itemized Deduction vs. Optional Standard Deduction

The Bureau of Internal Revenues provides business owners and self-employed PRC licensed professionals and non-PRC licensed professional with two types of income tax deduction schemes. These are the Itemized Deduction and Optional Standard Deduction. For taxpayers who want to minimize […]