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Senate panel OKs TRAIN bill, Angara touts higher take-home pay for ‘99% of taxpayers’

http://www.interaksyon.com/senate-panel-oks-train-bill-angara-touts-higher-take-home-pay-for-99-of-taxpayers/

 

The government is expected to generate some P134 billion in revenues, and “99 percent of taxpayers will enjoy higher take-home pay” under the version of the tax reform bill approved by the Senate ways and means panel, according to its committee chairman.

The committee has approved the Palace-endorsed Tax Reform for Acceleration and Inclusion (TRAIN) bill that the House of Representatives cleared earlier, with 21 senators giving their imprimatur to the committee report. Senate Bill 1592 now goes to the plenary for debates.

Panel chairman Sen. Juan Edgardo Angara said in his sponsorship speech that genuine tax reforms were needed after two decades, and played up the Senate committee report’s focus on allowing “99 percent of taxpayers” to enjoy higher take-home pay.

Minsan naririnig natin na mahirap para sa taumbayan na magtiwala. Kakaunti lang raw ang nakakaramdam ng serbisyo mula sa buwis. Hindi bulag ang Senado sa mga hinaing na ito. Kaya ako nakatayo rito, kabalikat ninyo, dahil totoong kailangang may magbago. Ito mismo ang hangad nitong panukalang batas,” Angara said.

Lower income taxes

The version approved by Angara’s committee retained the lowering of income taxes for 99 percent of income taxpayers.

Those earning P150,000 a year pay zero taxes; while those earning up to P250,000 annually will be exempted from income tax only if they have four dependents.

In the original version of the DOF and the House, those earning P250,000 a year pay zero tax, whether or not they have children.

Higher fuel excise tax

The Senate panel-approved version also tweaked the proposed additional tax on petroleum products.

In the House version, the 6-peso additional excise tax will be spread out over three years thus: P3 on the first year [or 2018], P2 on the second [2019] and P1 on the third [2020].

The Senate version spreads out the P6 this way: P1.75 for the first year, P2 for the second, and P2.25 for the third.

The Angara panel version kept the exemption for kerosene, which DOF estimates is used as fuel by some 3 million rural families.

Edited by daphne loves derby
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  • 2 weeks later...

I don't like where the Philippines is going, politically speaking. The current trend (of this and the previous administration) is that if you don't agree with the Chief Justice, the thing to do is to impeach them on the most absurd reasons and replace him/her.

 

The bigger problem we have is how fluid our politicians are. In some countries, members of the law-making body literally fight each other to defend their party's stance. Here, in the Philippines, they defect to the winning party. In effect, we don't have politicians with principles, only greed.

 

It's really sad that our society has allowed this greedy sentiment to foster.

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I don't like where the Philippines is going, politically speaking. The current trend (of this and the previous administration) is that if you don't agree with the Chief Justice, the thing to do is to impeach them on the most absurd reasons and replace him/her.

 

The bigger problem we have is how fluid our politicians are. In some countries, members of the law-making body literally fight each other to defend their party's stance. Here, in the Philippines, they defect to the winning party. In effect, we don't have politicians with principles, only greed.

 

It's really sad that our society has allowed this greedy sentiment to foster.

Check your history.

That kind of politics has been going on since we declared our Independence in 1898.

So, what are you going to do now?

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But it's only in the last 2 administrations that we'll be having the chief justice removed from office consecutively.

 

That's the problem with Filipinos: we're always looking for shortcuts instead of solving things methodically. We're a country ruled by emotion, not logic.

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  • 1 month later...

Pilipinas isang malaking biro?

 

Nag umpisa itong pagiisip ko ngaun mismong gabing ito november 15 2017 9:29PM naisip kong wala na talagang pagasa ang aking inang bayan at ang daan nalang para maging maayos ang buhay eh magaral at makatapos ng may degree na kurso at umalis at magtrabaho sa isang maunlad na bansa.

 

Naguumpisa ang lahat ng problema ng bansa sa gobyerno na napaka korupt na wala nang mahusay na nagawa para sa mga mamamayan na nagbabayad ng tax na napupunta lang sa mga bank account at bulsa ng mga opisyal ng gobyerno.

 

Mapunta tayo sa mga tax natin. Simula sa pagsweldo natin sa akinse o atrenta ng buwan ay kukuhanan na agad tayo ng tax ng ating gobyerno hanggang sa pagkain natin o pagbili ng kung ano mang bagay, noong isang araw umihi ako sa CR na may bayad sa isang mall at laking gulat ko sa nakalagay sa resibo ng CR na pinagihian ko ay may VAT o tax t*ngama nga naman umihi na nga lang ako nagka tax pa ako. Ganto na nga lang naman ang ating gobyerno panay ang singil saatin ng tax pero walang napupuntahan ang mga binabayad natin kundi sakanilang mga bulsa.

 

Paano ba mawawala ang korupsyon?

Paano ba malalabanan ang korupsyon?

Maaayos pa ba ang ating inang bayan?

 

 

 

PS. Lasing ako ayoko munang matulog baka d na ako magising nagtype muna ako..

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