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The House Committee on Ways and Means has approved a measure that raises the annual tax exemption ceiling from ₱250,000 to ₱350,000.
The legislative measure aims to set the income tax exemption to ₱350,000, allowing Filipino workers to take the higher amount from their salaries.
“Napprove na po natin yung pagtaas ng exemption sa income tax ng ating mga compensation earners,” House Committee Ways and Means Chairperson Rep. Miro Quimbo confirmed
[“The higher exemption on income tax for compensation earners has been approved.”]
“Dati po, ₱250,000 na taxable income ang exempted lang. Ngayon ay ginagawa na po nating ₱350,000,” he added
[“Previously, the ₱250,000 taxable income is the exemption. Now, we make it...