According to a recent Pulse Asia survey of 1,200 respondents, some 43 percent said they expected this year’s Christmas to be more prosperous than last year’s. Know more:
upbeat disposition will carry over to the new year, given that up to 92 percent of respondents said that they will face the incoming 2023 with hope.
For those earning yearly incomes between P400,000 and P800,000, the tax due will consist of a fixed obligation worth P22,500 plus 20 percent of the excess over P400,000. Before, the fixed amount was P30,000 while the percentage levied was 25 percent. Some tax experts say the new rates could result in additional take-home pay of up to P18,000 a month, depending on the income brackets workers are situated. Any additional amount can help ordinary families cope with rising prices of basic commodities and services, and keep their hopes up about life getting better for them.
For instance, under the 2023 budget, up to P102.6 billion has been provided for the Pantawid Pamilyang Pilipino Program , which is the government’s long-standing conditional transfer scheme that targets many of the country’s poorest households. Up to P50 billion has also been authorized to be devoted to the social pensions of our indigent senior citizens for their daily subsistence and medical needs.
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