Monday, June 17, 2024

Tag: Philippine tax system

How come Pinoys are paying higher income tax?

ARE FILIPINO taxpayers burdened with an “inequitable” and “outdated” tax system?

The answer is yes, as far as Sen. Juan Edgardo Angara is concerned.

“The country’s current tax system is terribly outdated and inequitable. Since (the enactment of the current Tax Code in 1997), prices have increased, and the cost of living has roughly doubled,” he said in an email to the Varsitarian. Angara chairs the Senate Ways and Means Committee, which is the tax-writing committee of the upper house.

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