The Public Fiscal Administration in the Local Government Unit

Abstract

Internal Revenue Tax is used to be the primary source of revenue or income of the local government units (LGUs) that the national government gives proportional shares to be used as public funds. This paper aims to discuss and look into innovative reforms and practices that lead to financial stability. The discussion evolves on the public fiscal administration specifically on the local income and revenues collected by LGUs, fund management practices, government enterprise operations, and best practices in revenue generation. Local taxation is beneficial that contributes to deliver the services for education, health, livelihood and employment, peace and order, environmental protection, socialized housing, economic development, and local governance and administration. Paying taxes at the local level helps in maintaining the support given of the local government to its people for their needs.

Keywords: Local Government; Local Taxation; Good Governance; Public Fiscal Administration; Economic Development

Australian Academy of Accounting and Finance Review, vol 4, issue 3, July 2018, pp 111-118