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Poe, Chiz bat for lower income taxes

Presidential aspirant Senator Grace Poe and running mate, Senator Francis Escudero vowed yesterday to treat the country’s workers with dignity and respect, as they batted anew for the imposition of lower income taxes.

The tandem joined the nation in honoring the workers’ contribution to nation building.

“Silang nagpapakain sa kanilang pamilya ng katas ng kanilang pawis at dugo; silang naghahanap-buhay nang malinis at tapat sa kabila ng kakapusan at kahirapan. Nawa’y makamit ng bawat manggagawang Pilipino ang hangad nating buhay na may dignidad at pantay na pagkakataon para sa lahat,” Poe said in a statement.

In pursuit of easing the plight of the workers, she pressed on the need to adjust tax brackets, which remain unchanged since 1997.

“Naniniwala ako dapat pababain ang buwis para mas malaki ang take-home pay,” the lady senator said.

She also noted that to attract more foreign investments, the government should also cut its corporate income tax rates.

“How can we compete with our neighboring countries which have lower income tax rates, like Vietnam, Indonesia and Thailand? The income tax here in the Philippines is one of the highest in Asia,” Poe said.

Currently, income in excess of P500,000 is taxed at 32 percent, making the Philippines as the country in the Southeast Asian region imposing the highest tax rate.