Republic Act 9504 or the act amending several sections of RA 8424 otherwise known as the National Internal Revenue Code of 1997 of the Philippines was approved last June 17, 2008 when Pres. Gloria Macapagal-Arroyo signed the order.
It was a relieving order for fixed income earners like me to be benefiting from this order. Minimum wage earners are totally exempted to pay taxes to the government while personal tax exemption applies to all others. For a single earner like me, I am exempted to pay Php50,000 which is deductible from my annual income plus all other deductions from benefits like SSS, Philhealth, Pag-ibig, etc. Head of the family and those who are married have the same exemption as mine which is an increase from Php25,000 to Php50,000. To those who has dependents, the previous exemption of Php8,000 each will be increased to Php25,000.
Sometimes I wished I have a child so I will be Php75,000 exempted from tax. hehe. But well, this is all I got for now and thankful I am for this benefit.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment