Revised Tax Exemptions schemes

[meledson]

Tama ba na once law na ito (after 15 days of signing), magkakaroon ang mga di-sweldo ng tax refund? :D

[tidus1203]

Is this thing retroactive at all?? Dapat hindi, yari nanaman public finances nyan. May doleouts na nga recently sa mga low end electricty users, may refund pa ng tax??

[jaguarpw]

this is very welcome news. May pangdagdag gasolina na ang mga tsikoteers

[meledson]

I have a feeling na for CY'08 siya, so basically retroactive. Gugulo kasi ang pag file ng tax kung hindi retroactive.

[claRkEnt]

no need for refund na siguro but the difference would be adjusted in the succeeding months so expect lower deductions including that for the x-mas bonus.

[Flagg]

sana next step is to update the tax brackets. kung di ako nagkakamali, more than 20 yrs na (1987 constitiution) since last na update ito. so a salary of 10k before would probably be worth around 20k today.

More like 45k.

[boybi]

Natawa ako sa C. Efficient Tax collection

Etong lang ang kelangan, ayos na ang buto buto.




Ooops, di pala. Meron pa palang dapat ayusin:







Corruption.

[meledson]

I have asked my wife who is an accountant. Basta daw tax, ang effect is for the current year. Retro to january. So kung may bagong exemptions that will take effect, retro till january.

:D :D :D

[sarceangel]

This is a good news....additional savings na ito kaysa naman damdamin mo na nagbabayad ka ng malaking buwis tapos makikita mo na ang gumagamit ng mga nakolektang buwis ay mga w*****g h**a at mga kurakot....but consider the pros and cos of this....

[badsekktor]

Cant blame the government for doing this move, She have to appease the masses or she might lose her position as well as her wealth to the angry mob. Mukhang magtitipid na ang gobyerno ah!

[meledson]

Cant blame the government for doing this move, She have to appease the masses or she might lose her position as well as her wealth to the angry mob. Mukhang magtitipid na ang gobyerno ah!

For me, matagal na dapat ito ginawa ng congress.

[meledson]

Cant blame the government for doing this move, She have to appease the masses or she might lose her position as well as her wealth to the angry mob. Mukhang magtitipid na ang gobyerno ah!

For me, matagal na dapat ito ginawa ng congress.

[handshake]

kasama ba dito sumusweldo ng 18-20k per month?

[karlbo]

The senator added that all holiday, night differential, hazard, and overtime pay would also be tax-exempt.

- I wonder kung sa minimum wage earners ito o para sa lahat. I think matutuwa mga taga call centers nito lalo na sa mga nag night diffs and OTs. Biro ninyo tax exempted na yon. This is really a good news to everyone.

Hay!? salamat naman kung ganito... naknang.. more take home.. less tax to pay..

nangyayari kasi napapaOT halos yung iba para may pambayad ng mga taxes eh.. nampepe naman ohhh..

[CVT]

Originally Posted by mikaztro View Post
The senator added that all holiday, night differential, hazard, and overtime pay would also be tax-exempt.

- I wonder kung sa minimum wage earners ito o para sa lahat. I think matutuwa mga taga call centers nito lalo na sa mga nag night diffs and OTs. Biro ninyo tax exempted na yon. This is really a good news to everyone.

Huwag na lang magtrabaho ng regular na oras at pumasok na lang ng Linggo o holiday o mag-overtime na lang para walang tax......

6220:foryou:

[meledson]

Wala akong OT pay nor night differential.

Masaya na ako kasi kahit paano ay bumaba ng konti ang tax na babayaran dahil sa mga exemptions.

Dapat ang mga tax bracket ang ayusin din.

[1D4LV]

kasama ba dito sumusweldo ng 18-20k per month?

if you are in metro manila, hindi. 375/day * 22 = 8,250.00 lang dapat ang sweldo mo para maging tax free income mo.

pero mababawasan pa din ang tax mo dahil sa increase of personal exemptions.

[_Qwerty_]

don sa holiday pay, overtime pay, etc.. nakalagay don sa Republic Act eh.. exempted from tax lang for minimum wage earner.. pag di ka na minimum wage earner.. taxable na yang mga holiday, overtime, etc.

[valvura]

kasama ba dito sumusweldo ng 18-20k per month?

the impact for a family earning P20K/month with 4 children (below 21 yrs old) would be this:

Before: P20,000 x 12 = 240,000 - 32,000 - 32,000 = 176,000 taxable
Tax = 22,500 + (0.25 x 36,000) = P31,500 / 12 = P2,625 per month

With new tax exemption:
P20,000 x 12 = 240,000 - 50,000 - 100,000 = 90,000 taxable
New tax = 8,500 + (0.20 x 20,000) = P12,500 / 12 = P1,041.67 per month

Savings per month = P2,625 - 1,041.67 = P1,583.33

(Equivalent to almost 3 kilos of NFA rice per day OR 27 Liters premium gasoline a month)

[fourtheboys96]

this is good news for a govt employee like me.

but on the other hand, I still believe we need taxes for our economy to function normally.

yes we can tax the rich businesses. then put the money in SME's.