dinky207 wrote: »
this is what he should concentrate on. he has to cut taxes to be competitive, esp now with Trump cutting USA taxes
sargo wrote: »
dutertenomics - "golden age of infrastructure" costs mag billions of pesos.
who and how will the government pay for these?
increase taxes people will pay
decrease social services to free up funds
take mega loans that pinoys will pay up for generations
print more money that will cause inflation to go up
all of the above are inflationary in nature. they will hurt pinoys across the board.
its impact will be negated or minimized if the PHL o through mega hyper on foreign investments and its GDP goes up to 8% to 12% level.
but how will foreign investments pour in when Dutete is known internationally as the EJK proponent and the human rights violator? and the PHL is know is a hyper violent country. then Dutete has cursed and insulted foreign leaders, countries and agencies?
as that show, Dutete is THE liability of the country.
ralfyman wrote: »
Why not a flat tax rate for income and increased tax rates for non-necessities? Also, streamline the whole process: remove multiple copies of forms, frequent reporting, keeping copies and photocopies of various documents, etc. Use computers and networks for data collection, payments, etc., with data redundancies and high levels of security.
ThugLine wrote: »
Income Tax rate from this
To this in 2018 and 2023
Fuel, sugar-sweetened drinks
To compensate for the loss of revenue, Congress decided to increase taxes on fuels such as gasoline, diesel, and liquefied petroleum gas (LPG), among others. This means higher prices for such commodities.
Diesel, which at present has no tax, would be imposed P2.50 per liter in 2018, P4.50 in 2019, and P6 in 2020.
LPG would have a tax of P1 in 2018, P2 in 2019, and P3 in 2020.
For gasoline, from the current tax of P4.35 per liter, it would be imposed a levy of P7 in 2018, P9 in 2019, and P10 in 2020.
For 2018, aviation gas would be taxed P4 per liter; asphalts P8 per kilogram; kerosene P3; naphtha P7; bunker fuel P2.50; lubricating oil P8; paraffin wax P8; and petcoke P2.50.
All petroleum products used as input, feedstock, raw materials for petrochem, and refining or as replacement fuel are tax-exempt.
Legislators also agreed to impose a tax of P6 per liter on drinks using sugar and artificial sweeteners and P12 on drinks using high fructose corn syrup. Milk and instant coffee are exempted.
The joint panel also decided to increase the prices of tobacco by 2018 despite the absence of this provision in both the Senate and House versions.
Under the existing sin tax law passed in 2012, the tax rate for next year would be P31.20.
But if TRAIN is signed into law, this would increase to P32.50 for the first 6 months of 2018 (January 1 to June 30).
It would then increase to P35 from July 1, 2018 to December 31, 2019.
A tax of P37.50 would then be imposed from 2020 to 2021; P40 by P2022 to P2023; and a 4% annual increase after that.
Cars, mining, cosmetic surgery
The bicam also approved a 4-tier tax scheme for automobiles:
4% for up to P600,000
10% for over P600,000 to P1 million
20% for over P1 million up to P4 million
50% for over P4 million
All pick-up trucks and electric vehicles would be exempted from additional taxes.
Hybrid cars would be imposed half the taxes as non-hybrid vehicles.
Congress also decided to impose a 5% levy on cosmetic surgeries and to double taxes on mining
gotta lick it wrote: »
this will be start DuDirty downfall.
why tax asphalt which is the poorman's road pavement? kerosine the poorman's home gas? LPG which is the blood of food and beverage industry?
especially bunker fuel. that will skyrocket the electricity rate given the philippines already has the highest electricity rate in SEA.
good luck to us. blame the [#]16MStupidFilipinoVoters[/#]
vince_44 wrote: »
excited na ako sa tax reform biruin mo madagdagan ng 4,300 ang take home pay ko monthly. kahit pa mg increase pa ng bilihin di mauubos ang 4,300 ko. mga taong tamad lang at unemployed tulad mo di nasisiyahan sa tax reform na ito.