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#SanaLang: Congress About to Approve Bill That Will Lower Income Taxes

Congress

Wow… Finally Some Good News?

While it’s not 100% sure yet, there’s actually a good possibility that our income taxes will be lowered. This is the withholding tax that’s taken from our salaries (usually around 25%-30%). According to Markina Representative Miro Quimbo, the Committee on Ways and Means is set to approve a bill that will change income taxes to the following rates:

  • Php180,000 a year will be exempted
  • Php180,000-Php500,000 will pay 9%
  • Php500,001-Php10,000,000 will pay 17%
  • Over Php10,000,000 will pay 30%

Let’s all keep our fingers crossed that this gets approved in the lower house and the Senate. If Pnoy signs this into law this year then Mar Roxas might actually win come 2016, hehe. :P

If you want to find out how much income tax you’re currently paying per payroll, head on over to the Income Tax Calculator of Rappler here. You can also download the app SWELDONG PINOY on Google Play (free).

Source: 1

Carlo Ople

Carlo is the Editor-in-Chief and Founder of Unbox.ph. During daytime he’s the Managing Director and Partner of a Digital Marketing Agency in the Philippines and by nighttime he’s living out his passion as a gadget enthusiast and story teller through Unbox.

7 Comments

  1. Medyo papogi na ang proposal na to. Sana yung mas makatotohanan na i-approve. Pero sobrang outdated na tax law natin. Sana yung batas na ipropose ay annual irerevise ang tax table

  2. Sana lang maisabatas na ito. Puro na lang lagi mahirap ang tinututukan. Ang middle class wala. Puro bayad lang ng buwis na kinukurakot lang. It’s time that the government show some importance to the middle class. Middle class kaya ang may pinakamalaking ambag sa government.

    1. +100!

      Government should think on how to spend our taxes properly instead of collecting more especially from us middle class.

        1. Totally agree. Taxpayers ang nahihirapan sa pagtatrabaho. Taxpayers ang bumubuhay sa ekonomiya ng bansa kaya tama lang na mapababa ang buwis para maenjoy naman nila ang kinikita

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