For lower income taxes
Published by the Visayan Daily Star
Editor-in-Chief & President
Bureau Chief, Dumaguete
MAJA P. DELY
|CARLOS ANTONIO L. LEONARDIA
There are hopeful signs for the Filipino taxpayer, especially for those who are employed. Another bill has been filed in the House of Representatives that seeks to reduce the rate of income tax to be filed by middle class employees from the present 32 percent to 15 percent, a move that is aimed at increasing the take-home pay of the ordinary worker.
There have been other bills on the same subject filed earlier and they will probably be consolidated before being taken up. The reduced rate is intended for those who are earning P20,000 to P70,000, and aimed to take effect starting January 1, 2015, to further go down to 13 percent in 2016, and finally to only 10 percent in 2017.
These are only proposals, of course, and may undergo a lot of modifications but, surely lawmakers would be loathe to go against it, considering the votes from the working middle class, so the chances of these bills getting somewhere are not so slim.
It is indeed necessary that our lawmakers see their way to support and press for the passage of these measures that will mean so much to our people. As for any argument that may arise about the reduction in government funds, let us point out that this same government has been trumpeting its attractiveness now to foreign investors who could be sources of taxes for us, aside from local businesses. Also, we have now a very dedicated and fearless Bureau of Internal Revenue that has shown grit in running after big companies and individuals to pressure them to pay the proper amount due to the government. That should make up for the supposed loss from the taxes of the low-salaried workers.
We hope that our solons will focus their attention on these proposals so that they can ease the burden of our working people, and, who knows, even encourage them to stay in the country, and not opt to work abroad, neglecting their families, and in many cases, going through indignities as well.*