Put two relevant observations or recommendations on REPUBLIC ACT…

Question Answered step-by-step Put two relevant observations or recommendations on REPUBLIC ACT… Put two relevant observations or recommendations on REPUBLIC ACT NO. 1478 i have provided one pls add one more. Here is the link : https://tieza.gov.ph/republic-act-no-1478/ Part 4 – Relevant Observations and/or Recommendations A. Appropriate Initiation of TaxesTax changes can have different effects on the travel and tourism sector. It is certainly a necessary and legitimate fiscal tool for all economies as they  level the playing field for private businesses and the tourism industry of course has to contribute to this. The industry has proven resilient and has contributed to the recovery of many of our economies. A large and sudden tax increase can lead to a sharp drop in demand. In contrast, generous tax breaks can attract more visitors to an economy. These show the importance of a change in tax rates in predicting its impact. Furthermore, if the increase in government revenue  from taxes is  used to reinvest in the tourism sector through the conservation of tourist cultural sites, the construction of basic infrastructure or vocational training for workers, and tourism, this will contribute to the long-term growth of the tourism industry. Therefore, fiscal policymakers should keep in mind the medium and long-term effects on the ability to generate economic growth and development when designing new taxes.  B.(Add one more pls)    Social Science Political Science CAS 101 Share QuestionEmailCopy link Comments (0)