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Cites impact on revenue loss, inequitability of such tax exemptions (Eagle News) – President Ferdinand Marcos Jr., has vetoed the bill that sought to exempt from taxes the allowances and financial benefits of persons serving during elections, saying that the impact of the revenue loss from this was “too substantial.” Palace press secretary Trixie Cruz-Angeles said that the President vetoed House Bill No. 9652 and Senate Bill No. 2520, also known as “An Act […]
QUEZON CITY, Sep. 11 — Workers earning less than P180,000 annually would no longer have to pay income tax once the House Bill reducing individual and personal income taxes becomes a law. The House of Representatives Committee on Ways and Means’ Technical Working Group is now finalizing the consolidated version of the bill after 11 public hearings. Committee Vice-Chair Sharon S. Garin explains that the bill is meant to increase the take-home pay of employees in […]
MANILA, Philippines June 22 (Eagle News) — The Trade Union Congress of the Philippines (TUCP) is on full support of the bill that is proposing a tax exemption on overtime pay and night deferential pay. (Eagle News Service Jay Paul Carlos, Jericho Morales, MRFaith Bonalos) https://youtu.be/yTUOrpbMrJE
The Bureau of Internal Revenue (BIR) issued the implementing rules and regulations regarding the tax exemptions of the 13th month pay.
