NO TAX if 21,000 or less monthly income under new proposed law

The Senate on Wednesday, November 22, approved a higher personal income tax exemption for Filipinos of P250,000 annually, effectively increasing the take-home pay of taxpayers. Senate ways and means committee chair Juan Edgardo Angara said the P250,000 exemption covers all workers, including employees and self-employed, no matter if the income is greater than that. Angara also said the tax burden will be transferred to the rich. Once approved into law, Filipinos earning P21,000 a month will be exempt from paying income taxes. The exemption approved by the Senate essentially followed the versions of the Department of Finance and the House of Representatives. “You’ll pay less taxes, bigger exemption. Mas malaki mauuwi (the take-home pay is bigger). It’s available to anybody who earns more than P250,000," Angara told reporters. (Senate OKs P250K annual income tax exemption; Camille Elemia @CamilleElemia Published 2:42 PM, November 22, 2017 Updated 2:50 PM, November 22, 2017)