Home » Posts tagged with » Tax reform

On tax reform

Lowering the individual (personal) and corporate income tax rates is not easy nor is it simple. The government needs to find additional sources of revenues, assuming that government expenditures will remain at the same level, to offset the “lost” revenues from income tax.

If enacted into law, over four million Filipinos classified as low-income earners will be exempted from the new income tax system proposed by the Department of Finance.

Continue reading …