Excise Tax? When June 2017 or 2018?

**_Cathy_** · December 19th, 2017 12:03 PM

Originally Posted by therightone

Teka, nasa top 1% na ang family na may income PHP1.5Million or more?
Hmmm... although I don't know the real stats but that's really hard to believe.

Exactly. That's just over P100k a month. Even P1.5M a month can't be called top 1%.

**dreamur** · December 19th, 2017 01:56 PM

I made a rough calculation of the impact on those earning the max range (P8M and up) and it shows it will have a positive impact (better take home pay) of 1% by 2018 and 4% by 2023. Strange but good news for *EQ. :D

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**EQAddict** · December 19th, 2017 01:58 PM

Originally Posted by dreamur

I made a rough calculation of the impact on those earning the max range (P8M and up) and it shows it will have a positive impact (better take home pay) of 1% by 2018 and 4% by 2023. Strange but good news for *EQ. :D

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Wahaha

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**Wh1stl3r** · December 19th, 2017 02:15 PM

^
Tapos bababa pa price ng LC200s. Pa pizza ka naman bro

**dreamur** · December 19th, 2017 02:17 PM

Originally Posted by EQAddict

Wahaha

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I know, right? While those in the lower bracket will get a 2% and 6%, respectively. Looks like a good deal!

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**CVT** · December 19th, 2017 02:21 PM

Originally Posted by dreamur

I made a rough calculation of the impact on those earning the max range (P8M and up) and it shows it will have a positive impact (better take home pay) of 1% by 2018 and 4% by 2023. Strange but good news for *EQ. :D

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Agree bro,- that is why 2023 is something to look forward to....

"Give me my money and let me decide how to spend it..."

**dos2** · December 19th, 2017 02:50 PM

Originally Posted by dreamur

I made a rough calculation of the impact on those earning the max range (P8M and up) and it shows it will have a positive impact (better take home pay) of 1% by 2018 and 4% by 2023. Strange but good news for *EQ. :D

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For 2018-2022, break even gross income for high earners are those earning 12,173,333 annually (computation includes personal exemption of 250K and non-taxable 90K bonus). Beyond this amount, income tax would be higher by 3% compared to the old tax table (32% for the old vs 35% for the new).

For 2023 beyond, this increases to 18,750,000

**dos2** · December 19th, 2017 03:17 PM

Originally Posted by dreamur

With Duterte’s TRAIN, poor pay higher taxes so rich can take home more – IBON Foundation

The country’s rich are meanwhile among the biggest gainers from TRAIN’s income tax reforms. Low income and middle class families earning up to some Php60,000 a month will have a few thousand up to around Php80,000 additional take-home pay annually. The richest 1% of families with incomes of Php1.5 million or more a year will have an average of Php100,000 to over Php300,000 additional take-home pay annually especially when income taxes are lowered further in 2023. This is on top of how the rich will pay billions of pesos less in estate and donor taxes.

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Ano kaya basis para macategorized na rich dun sa IBON article.
Tingin ko mahirap talaga makuha to sa survey, kaso ako personally kung kasama ako sa survey na yan, I will underdeclare by more than half of my real income. Most transactions din sa bansa natin ay di rin naman namomonitor kasi wala tayong centralized monitoring/receipt system.

Statistically, based from PSA as of 2015 a family should earn at least 250K per month to be considered rich. Medyo nalilito lang ako sa mga tables nila kasi ang interpretation ko 1/3 ng families sa buong Pilipinas are "rich" (Table 8). If individual consideration, bababa pa yung figure na to kasi normally naman 1 atmost 2 lang ang breadwinner na medyo malaki ang earnings sa Pamilya, at kung 5 ang working sa pamilya, 50K per month lang yun which is a normal rate for managerial level.