The Tax Exemption Bill
According to this news, the approval of the tax exemption bill that’s been pending in the Senate was rushed. I say this has long been overdue.
MANILA, Philippines — With three weeks left before Congress goes into recess, the Senate is rushing the approval of a long-awaited measure that seeks to exempt minimum wage earners from paying the income tax.
But with the inflation since 1997, the brackets in the progressive tax table definitely needs as much adjustment as the personal exemption. Otherwise, it would just be like saving the lowly taxpayers a meal a day when they eat three times a day.
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13 Responses to “The Tax Exemption Bill”
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Yea I completely agree. The progressive tax needs to be revisited and adjusted by inflation if the government is really serious in exempting minimum wage earners from tax. Otherwise the purpose will be defeated by an inappropriate implementation.
Comment posted on 30th May 2008
Yo Mr. Wilson, is there a way to compare the tax system between the Philippines and Australia? I would love to read your blog about that!
Keep on blogging!
Comment posted on 30th May 2008
The fact that this issue is currently flooding with sensible comments from tax payers like me, allow me to share my view… As a call center agent earning from 8-10T every payday, I oftentimes find myself thinking why am I working for a tax deduction equivalent to a three night shift workday (which my company deducts every 15th and 30th) when in fact the government can not even provide adequate security for the nightly workers and could not even say, “Thank you for working for us! - The Govenment Officials.”
Comment posted on 30th May 2008
Hi Irate Agent, thanks for that feedback. In as much as I share your sentiments, it can’t actually stop me from continue hoping for a country we always dreamed of to be. After all, asides from our own contribution, that’s what we only have…HOPE!
Comment posted on 30th May 2008
Perhaps they should also consider lowering the tax base to a max of 30% to coincide with the plunge of corporate income tax rates in 2009. This will be plus points to the incumbent government as well as to the advocates of RA9337 for the 2010 elections. :p
Comment posted on 9th June 2008
@ Ching, wow! What’s RA 9337? :D
Comment posted on 12th June 2008
thanks for your comment, deuts… but for now, i need to thank the legislators for FINALLY coming up with this amendment. Indeed, this has long been overdue…
SALAMAT NAMAN AT NATAUHAN NA DIN SILA!
(–,)
Comment posted on 23rd June 2008
Well, this law will definitely benefit the lower class, especially the minimum wage earners. But what about the middle class? We won’t almost feel the impact of that.
The legislators surely earned the pogi points from that act, without sparing much from the taxpayers what they actually deserve.
And I say…”WE DESERVED SO MUCH MORE!” :D
Comment posted on 23rd June 2008
I would like to know if there is a tax exemption for a call center agent that has income of Php 15,000 / payday
Comment posted on 26th June 2008 (jhem007 is subscribed to followup comments on this post.)
Hi Jhem, I don’t think you belong to the minimum wage group. That’s actually what I’m trying to say here. Majority of the Filipino people thinks the legislators (and the government for that matter) has done them a great favor. But if you scrutinize the amendment to the tax law very well, it’s just a small tax savings especially for us in the middle class.
Comment posted on 26th June 2008
Thank u. Is there a law if the company did not provide TIN? Because this is my first job. My company continous deduct to my salary even w/o TIN. I worried if they pay my ITR.
Comment posted on 27th July 2008 (jhem007 is subscribed to followup comments on this post.)
Definitely, you should have a Tax Identification Number (TIN). Your first company should have applied you for that. If they refuse to give you your TIN, something is definitely wrong.
Comment posted on 27th July 2008
[...] tax table. Our lawmakers and our President sure have gained credits for themselves for passing the bill into law. But it only did affect the personal exemptions allowed for most of us taxpayers. Only a [...]
Comment posted on 11th September 2008