Dutertenomics - Tax Reforms

mimigsmimigs Member PEx Veteran ⭐⭐
1. sugar-sweetened beverages and carbonated drinks
House - eyeing a provision imposing an additional P10 excise tax on sugar-sweetened beverages and carbonated drinks



2. Tax Program

Those earning P250,000 or below annually will be exempted from paying income taxes. The mandated 13th month pay up to P82,000 as well as other bonuses will still be tax-free.

The "ultra-rich," who comprise 0.1% of taxpayers, will be levied a higher rate of 35% from the current 32%.

Current
proposed-tax-sched-january-31-2017-02_526D90B630E4443184DB8BF196552BE7.jpg

AFTER
proposed-tax-sched-january-31-2017-1_40273DDD7D8249529924EC6CC7C3D599.jpg


in comparison, if 500k is your yearly income...
your Current tax = 50k + 50k(30% of 150k excess)
vs
your New dutertetax = 22.5k + 20k (20% of 100k excess)

you save around 60k in taxes

BUTTT!



3. Excise tax on fuel
1-1_81C0597D07F7470D9874E4D4D175371E.jpg

4. TAXES on new cars
auto-excise-rates_CB1D8C8CB4404624B493B0AFF9D7503B.jpg

here's a sample computation
2_720EE43307A543D4AC9FF95C1DB8FFE3.jpg

http://www.rappler.com/newsbreak/in-depth/160097-tax-reform-duterte-income-tax

http://www.dof.gov.ph/index.php/ctrp-cornerstone-of-infra-buildup-funding/

http://www.rappler.com/nation/168763-house-committee-approves-duterte-tax-reform-package

thoughts?
«13456748

Comments

  • marcus_huntmarcus_hunt Member PExer
    *okay*

    The taxes on new cars can be hiked up even more, but they need to provide better public transportation. Maliit lang yun 250k for those who can afford to buy a new Ford Everest. Tapos 12k for a new sedan, mas mahal pa yun iphone nung bibili sigurado.

    Ok lang din yun sa fuel. Kung talagang wala ng kinikita ang mga PUVs dahil sa traffic at presyo ng gasolina, bakit sila dumadami?

    Tax reform... a long time coming. Kailangan ng matinding political will yan. Tingnan natin kung kaya nya.
  • mimigsmimigs Member PEx Veteran ⭐⭐
  • gotta lick itgotta lick it Member PEx Influencer ⭐⭐⭐
    there is a new tax proposal. tax food with salt!!!!

    maraming dukha mawawalang ng trabaho uli dahil pati asin gustong i-tax.
  • ObjectionObjection Too much winning PEx Influencer ⭐⭐⭐
    Disregard my earlier post.
    Yearly pala nalagay ko kaya pala tumaas my bad :glee:
    WTF I love Duterte again :glee:

    Yung issue nalang niya sa communist at Muslims di ko gusto :glee:
  • mimigsmimigs Member PEx Veteran ⭐⭐
    Correction

    KAWAWA ANG MAYAYAMAN

    halos kalahati po nabawas saming mga middle class :naughty:
  • there is a new tax proposal. tax food with salt!!!!

    maraming dukha mawawalang ng trabaho uli dahil pati asin gustong i-tax.

    Kalokohan talaga ito, gusto kong sapakin sa mukha ang nag proposed nito. Ang matatamaan nito lahat ng mahihirap dahil maraming kumakain ng daing or kahit kanin nalang na asin yung ulam.

    Kung gusto nilang kumita i tax nalang nila yung corruption, for sure we will earn billions of pesos a year.
  • mimigsmimigs Member PEx Veteran ⭐⭐
    teka OT kayo, gawa kayo ng ibang thread about it

    House Bill No. 3719, authored by Masbate 3rd District Rep. Scott Davies Lanete, seeks to impose a tax of P1 for “every milligram of sodium in excess of one-third of the allowable daily intake of sodium chloride” prescribed by the Department of Health. In his explanatory note, Lanete called salt a “silent killer” that has led to many cases of higher blood pressure.

    Bukidnon 3rd District Rep. Manuel Zubiri, meanwhile, said that “salt is not the enemy,” and the content of salt in each food item should be regulated instead of imposing a tax.

    Kabayan Party-list Rep. Harry Roque also noted that the committee did not invite the poor people who have been eating salt for sustenance, referred to by a Tagalog idiom as “nagdidildil ng asin.”



    Read more: http://newsinfo.inquirer.net/848771/lawmakers-raise-impact-of-proposed-salt-tax-on-the-poor#ixzz4gd0dgiov
    Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

    meanwhile check niyo muna eto

    http://taxcalculator.dof.gov.ph/
  • ObjectionObjection Too much winning PEx Influencer ⭐⭐⭐
    Only solution dito para sa mga small business middle class ay taasan yun VAT threashold na currently around 1.9M yun sana nasa pang 5M and above or at least mga 4M.
  • lee_mclinolee_mclino Member PExer
    I tax nila lahat ng tao sa Pilipinas basta kumikita, pero dapat babaan lahat ng tax... para sure na magbayad... Wag etong exempt exempt.
  • mimigsmimigs Member PEx Veteran ⭐⭐
    All taxes go down except for people earning 5million+ per year.

    if you belong to the 1% earner, your tax has increased from 32% to 35%.
    Gasoline prices/new cars/sugar breverages increases by a lot.

    It's time to increase the tax for the rich

    if you are not working or not not paying taxes yet (like students/retired/small time earner), now you are forced to pay these excise tax especially sa Gasoline.
  • JagonJagon Don't listen to me PEx Influencer ⭐⭐⭐
    advice to the mayayamans: change your lifestyle, payamanin niyo kaming mga middle class at kayo naman ang maging dukha :glee:
  • sargosargo got balls PEx Influencer ⭐⭐⭐
    this is not "tax reform" that will be done, it will be a "tax increase"

    - excise tax on cars
    - tax on processed foods and drinks with sugar
    - tax on processed foods and drinks with salt
    - tax on fuel
    - higher SSS contribution

    those will decrease take home pay.

    now add to the above the following :

    - 3.5% inflation, almost double to 2015/16
    - increasing (variable) fuel prices
    - P50 - $1 exchange rate and continuing devaluation
    - increasing (variable) unemployment
    - increasing (variable) hunger
    - increasing (variable) self-claim poverty
    - worsening traffic (productivity)
  • BeerhandBopBeerhandBop I Am WHIP PEx Influencer ⭐⭐⭐
    "halos kalahati po nabawas saming mga middle class
    "

    dumami mang ang 'natirang' pagkatapos buwis na (after tax money) pera sa middle class, nabasawan din naman ang buying power.

    ang middle class ngayon nakaka bili na ng innova at fortuner.
    after the tax increase, hindi na makakaya ng middle class ng bumili. hangan alto at wigo nalang ang pwedeng bilhin ng middle class/ masa.
  • BeerhandBopBeerhandBop I Am WHIP PEx Influencer ⭐⭐⭐
    Jagon wrote: »
    advice to the mayayamans: change your lifestyle, payamanin niyo kaming mga middle class at kayo naman ang maging dukha :glee:



    don't be excited. tama si sargo and see his enumeration. kung meron dyan na hindi mo maintindihan baket nakaka sama yan sa middle class e magtanong ka.

    Hindi nakaka hiya ang magtanong. ang nakaka hiya ay nagmamarunong na may alam.

    but the gist of it all: lahat ng bilihin ay magtataasan. konti nalang nga ang buying power ng peso, babawasan pa ng lalo.

    sabi ko nga, ngayon nakaka bili na ng mga fortuner ang middle class. (more or less 1. 6 Million ang halagang sasakyan) after this excise tax, kahit vios or accent ay magtataasan na ng presyo

    ang matitirang murang sasakyan ay wigo, alto, at mirage.
    in other words sasakyang maliliit lamang. hindi narin mabibili ang mga sasakyang pang kalakalan dahil magtataas na din ito ng malaki.

    sa gaas at crudo, kasabay sa pag taas neto ay pamasahe, kuryente, at lahat ng bilihin. wala na yung cheap flights ninyo sa cebu pac na kaya nang ma afford kahit ng katulong na magbabakasyon sa probinsya.

    lahat eto ay mawawala. all thanks to the tax increases.
  • badJayebadJaye sitting.. wishing.. waiting PEx Influencer ⭐⭐⭐
    So far... this will benefit the middle class but will hit the poor.... unless they will balance it using 4Ps and fuel credits for public transpo.
  • mimigsmimigs Member PEx Veteran ⭐⭐
    badJaye wrote: »
    So far... this will benefit the middle class but will hit the poor.... unless they will balance it using 4Ps and fuel credits for public transpo.

    Fuel credits will be provided for public transpo drivers as per the news
  • sweet.twinssweet.twins sugary PEx Influencer ⭐⭐⭐
    mimigs wrote: »
    Fuel credits will be provided for public transpo drivers as per the news

    excise tax on fuel will need an increase on transpo fares. the poor take jeepneys and buses. what are you talking about?

    the other increase in taxes will also hit the poor.

    the inflation rate which has been going up will hit the poor.

    what the hell are you talking about?
  • mimigsmimigs Member PEx Veteran ⭐⭐
    Sabi ko nga diba

    Its time for the middle class

    Puro nalang mahihirap at mayayaman ang nakikinabang :)

    Besides your yellow admin walang nagawa last admin

    Sorry but no more noynoying sweet twins
  • sweet.twinssweet.twins sugary PEx Influencer ⭐⭐⭐
    mimigs wrote: »
    Sabi ko nga diba

    Its time for the middle class

    Puro nalang mahihirap at mayayaman ang nakikinabang :)

    the poor account forthright majority of the population. they will also get hit by the inflation and increase in taxes.

    these increases will not matter to the rich. they are rich, paying P100T to P150T wont ,after much for someone earning P5M to P50M+.

    but not to the middle class. the middle class will suffer the most. they are the ones who are striving for upward mobility. the increase in prices and taxes will slow their upward mobility. for example - they won't be able to afford to buy cars.

    the rich already has 2 to 3 cars, they don't need to buy another.

    what are you talking about?
  • mimigsmimigs Member PEx Veteran ⭐⭐
    Have you seen the future? :) kasi the last time you guys tried predicting napunta lang sa basura. anyway

    possible yan mangyari and possible rin na hinde, infrastructures are coming and it is all connected with other dutertenomic projects

    i wont take that away from you, tip lang pag ayaw nyo mapahiya ulit tulad nung last election, huwag magsalita ng tapos :)

    ay teka bakit ako nag rereply sa inyong Sargo and friends, irrelevant na pala kayo according to other pexers :alarm:

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