Taxation
RR 10-2008 (Implementing regulations of Republic Act No. 9504)
The BIR has finally issued Revenue Regulations No. 10-2008 (September 24, 2008) implementing the provisions of Republic Act (RA) No. 9504 relative to the income tax exemption of minimum wage earners and increase in the amount of personal and additional exemption allowances.
Minimum wage earners get tax relief
(By Michael Lim Ubac, Philippine Daily Inquirer, 06/18/2008)
Republic Act No. 9504 exempts minimum wage earners in the private sector and their counterparts in the public sector (casual employees) from paying income tax.
Personal exemptions up
The law increased the amount of personal exemption from P25,000 to P50,000 for all taxpayers regardless of status (single, married or head [...]
Coming soon: Tax Relief for Individual Income Taxpayers
(by Marivic C. Españo, Business World, June 11, 2008)
When newspapers report about the efforts of Congress to pass a law intending to lower the taxes that are being paid by individuals, I must admit that I was skeptical on the possibility of this happening in the next couple of months. After all, bills seeking to [...]
