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Tax Reform Overview: Key Changes Explained by Raymond Pasco is a document available to read on EtoBox.

What is Tax Reform Overview: Key Changes Explained about?

The document summarizes key aspects of tax reform in the Philippines. It proposes exempting the first PHP 250,000 of annual income from tax, reducing tax rates for those earning PHP 250,000 to PHP 5 million annually, and increasing the tax rate to 35% for those earning over PHP 5 million. It also proposes reducing VAT exemptions, increasing excise taxes on petroleum and automobiles, and introducing an optional flat tax of 8% on gross revenues for small businesses. The goals are to make the tax system simple

Author

Raymond Pasco

Language

EN