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Marcos tax plan to cost gov’t P66B yearly
Inquirer.net - Latest
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House Speaker Faustino Dy III and Majority Leader Sandro Marcos filed House Bill No. 10345 to raise the annual tax-free income ceiling from P250,000 to P350,000. The bill was introduced following President Ferdinand Marcos Jr.'s State of the Nation Address.
MANILA, Philippines — The Philippine government stands to forgo about P66 billion in revenue under President Marcos’ proposal to expand personal income tax exemptions and exempt small businesses from the minimum corporate income tax. Finance Secretary Frederick Go said on Wednesday that raising the annual personal income tax exemption threshold to P350,000 from P250,000 would reduce […]...
Keep on reading: Marcos tax plan to cost gov’t P66B yearly ...
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