This is good news...

[mattster55]

Arroyo signed in Malacañang Tuesday Republic Act 9504 or an act amending Sections 22, 24, 34, 35, 51, and 79 of RA 8424 or the National Internal Revenue Code of 1997.

From the current P20,000 personal exemption for single taxpayers, P25,000 for head of family, and P32,000 for married individual, the tax exemption will be fixed at P50,000.

...all

Comments

[thetotorocatbus]

OMG has hell frozen over? PGMA finally makes herself useful!!!! o_0 Hahaha!

[thetotorocatbus]

President Arroyo merely signed the law. The law was authored by administration and opposition lawmakers.

[anonymous]

Re: "all holiday, night differential, hazard, and overtime pay would also be tax-exempt."

Its only applicable to minimum wage earners. Those earning beyon the minimum wage will pay applicable taxes for holiday, night differential, hazard pay, overtime pay. Its on Section 2 of RA 9504

[moki]

sweet.