The take-home pay is bigger as Senate approved higher personal income tax exemption for Filipinos

The Senate approved a higher personal income tax exemption for Filipinos of P250,000 annually, effectively increasing the take-home pay of taxpayers on Wednesday, November 22, 2017.
Filipinos earning P21,000 a month will be exempt from paying income taxes once approved into law. As per Committee chair Juan Edgardo Angara, exemption covers all workers, including employees and self-employed, no matter if the income is greater than that and also said that tax burden will be transferred to the rich.
After the Senate passes the bill, both chambers of Congress would have to undergo a bicameral conference committee to thresh out differences between the two versions.

You may also like this: Salary Grade Table 2017 Update

Sources:
https://www.rappler.com/nation/189218-senate-version-income-tax-exemption
http://newsinfo.inquirer.net/946918/senate-cosmetic-surgery-tax-reform-bill

Thanks for reading this article.

Was this helpful?

If you find this information helpful, share it with others. Know someone who can use this information? Share this with them as well! Let’s spread the news.