Albay 2nd district Rep. Joey Salceda reminded Filipinos on Saturday, Dec. 31 that half a month’s worth of salary awaits them as part of the windfall from the Tax Reform for Acceleration and Inclusion or TRAIN Law.
“A 13.5th month bonus” was how Salceda described this additional income, which will stem from the cuts to personal income tax rates in 2023 via TRAIN.
Salceda principally authored and sponsored the law, which is also known as Republic Act No.10963. It took effect on Jan. 1, 2018. Individuals with taxable income above P2 million but not greater than P8 million will see a 2 percent decrease in personal income tax. Income below P250,000 will still be exempt from PIT.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RIZAL DAY MESSAGE: Marcos calls on Pinoys to embody Rizal's patriotism, perseverancePresident Ferdinand "Bongbong" Marcos Jr. on Friday urged Filipinos to continue to embody the ideals and virtues of patriotism and perseverance of Dr. Jose Rizal, the country&39;s national hero.
Read more »
House panel to block taxation of PUJs, goods consumed by poor PinoysHouse Committee on Ways and Means Chairman Joey Salceda has thumbed down a recommendation from the International Monetary Fund (IMF) for the government to shift away from luxury taxation of cars, saying this would lead to the taxation of PUJs.
Read more »
‘Don’t buy onions by the kilo’: Pinoys hit Department of Agriculture’s adviceAs the price of red onion continues to soar, the Department of Agriculture (DA) advised the public to purchase only what they could, instead of buying a
Read more »
Speaker asks Pinoys: Pray for us congressmenHouse Speaker Martin Romualdez has humbly asked Filipinos to pray for him and his fellow congressmen as the nation prepares to welcome the New Year.
Read more »
Group calls for 'hybrid' SIM registration as glitches hound subscribersThe government must ensure no subscriber loses the right to communicate while implementing the new SIM registration law, says the advocacy group Digital Pinoys. SIMRegistration
Read more »
Indonesia issues emergency regulation to replace controversial job creation lawThe Constitutional Court in 2021 ruled that the passage of the Indonesian president's Jobs Creation Law was flawed due to inadequate public consultations.
Read more »