Albay Rep pushes for lower income tax for wage earners

Albay Rep pushes for lower income tax for wage earners

Rep. Joey Salceda of Albay has proposed a tax reform package under his Bill 4688, titled Tax Reform for Acceleration and Inclusion (TRAIN) that will provide relief to the vast majority of Filipinos by lowering income taxes by 2018.

In recent a news conference, Salceda said an additional three million salaried workers in addition to millions of minimum wage earners, will pay zero income tax based on the adjusted brackets. He said that the optional standard deduction system be limited to low-income earners. He added that rich Filipinos with incomes exceeding P5 million a year will not be accorded this privilege.