Angara hopes for passage of Tax Reform Bill

           

by Rita Salonga via RH News

Manila, Philippines - Senate Sonny Angara continues to lobby for the passage of the Tax Reform Bill.

The Senator hopes that the said bill will be passed in the 17^th Congress.

Incoming President Rodrigo Duterte’s Economic managers included in their 10-point Socioeconomic Agenda in the Duterte administration the tax reform.

According to Angara, chairman of the Senate Committee on Ways and Means, it is nice to hear that the Duterte administration is open to reviewing the existing tax system in the Philippines.

In the Senate bill 2149, which was submitted last February 2014, Angara said that they should lower the income tax for across-the-board earners, lower the tax rates to 25 percent from its current 32 percent and compress the tax brackets from 7 to 5.

Angara is confident that the Duterte administration will be able to follow its timetable of submitting by September the said bill so that they can easily discuss it during their sessions.