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In the Philippines, a government-owned and controlled corporation ( GOCC ), sometimes with an "and/or", [ 1] is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees.
In PRC terminology, a state-owned enterprise refers to a particular corporate form, which is increasingly being replaced by the listed company. [ citation needed ] Some of the largest state-owned enterprises have been floated on the Shanghai Stock Exchange and the Shenzhen Stock Exchange , but in actuality, the state maintains total control of ...
There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province.
Governance Commission for Government-Owned or -Controlled Corporations ( GCC) is a government agency of the Philippines created by Republic Act 10149 or the Governance Act of 2011. It is the central policy-making, advisory, and regulatory body in regards to the operations and management of state-owned companies, designated as Government-owned ...
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.
www .dof .gov .ph. The Department of Finance ( DOF; Filipino: Kagawaran ng Pananalapi) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local ...
Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
Philippine Aerospace Development Corporation. Philippine Amusement and Gaming Corporation. Philippine Charity Sweepstakes Office. Philippine Children's Medical Center. Philippine Coconut Authority. Philippine Economic Zone Authority. Philippine Guarantee Corporation. Philippine Health Insurance Corporation. Philippine Heart Center.