By ACT TEACHERS (PR)
QUEZON CITY — Amid pronouncements by President Rodrigo Duterte that benefits from tax reforms will only take effect in 2018, ACT Teachers Party-list said that this answer to the clamor of teachers and other government employees to lower the income tax is long overdue.
“A lower income tax is needed. The 19-year old Tax Reform Act is retrogressive and does not enable our citizens to keep up with the high cost of living. Income tax must be lowered by adjusting the existing income brackets,” ACT Teachers Representative France Castro said.
Castro said it is imperative that legislators from both the House and Senate heed the 1987 Constitution’s mandated to establish a progressive and equitable rule on taxation.
In this regard, Castro and Representative Antonio Tinio filed a bill (HB 57) in the 17th Congress that will restructure the income brackets and rates imposed on taxable income of individuals. More so, income tax exemptions will be implemented for minimum wage earners, such as Teacher I from public schools earning not more than P396,000 annually.
“It is high time that we act to change this inequitable reality where the middle-level employees and billionaires such as Henry Sy and Forbes Park occupants pay the same amount of taxes,” Castro ended. # nordis.net