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Thursday, September 21, 2006
Minalin adopts new revenue code
By Raymond C. Garcia
MINALIN -- In order for this progressing municipality to adapt to its present situation, the Municipal Government here recently approved a new revenue code.
The Municipal Council passed a resolution docketed under Ordinance 16, enacting the new revenue code of this town.
Section 18 of Republic Act (RA) 7160 provides that local government units (LGUs) shall have the power to create its own sources of revenue and to levy taxes, fees and charges for the efficient and effective implementation of their development plans, programs, objectives and priorities.
LGUs are authorized by the law to adjust the tax rates prescribed not oftener than once every five years and the latest approved Revenue Code of this municipality was in 1993.
The resolution states that it is highly imperative to revise and update the existing tax code of this municipality in order to conform to the changing patterns of business and economic trends.
Moreover, the resolution also states that the Municipal Council had conducted various public hearings/consultations and caused the posting of the herein ordinance pursuant to Sections 187 and 511 of the Local Government Code (LGC) of 1991.
(September 21, 2006 issue)
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