Senator Sherwin T. Gatchalian said last Monday that most individual taxpayers are expected to bring bigger take-home pay this year as provided in the Tax Reform for Acceleration and Inclusion, or “Train,” law (Republic Act 10963).
SENATOR Sherwin T. Gatchalian said last Monday that most individual taxpayers are expected to bring bigger take-home pay this year as provided in the Tax Reform for Acceleration and Inclusion, or “Train,” law .
Gatchalian cited, for instance, that a public school teacher categorized as Teacher 1 with a monthly salary of P27,000 or Salary Grade 13 and who has an annual income of P351,000 will now have monthly tax savings of P420.83 or P5,050 for the entire year. Another case he cited is a public hospital nurse—categorized as Nurse III or SG 17 who has an annual income of P559,390 or P43,030 monthly—will now have monthly savings of P1,289.13 or annual tax savings of P15,469.50.
“His/her savings of P2,125 yearly or P177.08 monthly can buy him/her 2.5 kilograms of regular milled rice and 12 eggs estimated to be worth P176.50,” the senator said. He also cited the case of an information technology junior executive who earns P45,000 monthly or P585,000 yearly, noting that additional food items can be bought with an additional monthly savings of P1,395.83 or P16,750 annually.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Win Gatchalian’s No. 1 New Year’s resolution is to get married in 2023: ‘Malapit na!’MANILA, Philippines — Getting married and having his own family are just among Senator Sherwin Gatchalian’s resolutions this year. Gatchalian talked about his plans after spending the
Read more »
‘Court decision to impact PH-China oil exploration’Senate Energy committee Sec. Sherwin Gatchalian said the Supreme Court (SC) decision that voided the 2005 joint oil and gas exploration agreement between the Philippines, China, and Vietnam may have also dimmed the prospect of a similar deal betw-- READ:
Read more »
Pagasa: Rainy Monday in parts of PH due to LPA, ‘amihan’A low pressure area, shear line and northeast monsoon or “amihan,” will bring rains to parts of the country, including Metro Manila, the state weather bureau said on Monday. | BPinlacINQ
Read more »
LIST: Canceled flights on Monday, January 16, 2023, due to bad weatherAirport officials announced the cancellation of several domestic flights on Monday as inclement weather persists in parts of the country due to the low pressure area, shear line, and northeast monsoon or locally termed as amihan. | BPinlacINQ
Read more »
JV Ejercito suggests back-up air traffic management system in CebuSenator JV Ejercito on Monday suggested putting up another air traffic management system in Cebu to serve as a back-up mechanism in case another incident of supposed technical malfunction happens.
Read more »
‘Huwag na lang tayong kumain ng onion’: Villar chides FTI execs over onion purchaseMANILA, Philippiens — “Huwag na lang tayong kumain ng onion,” an exasperated Senator Cynthia Villar said Monday during a Senate hearing on the soaring prices of onions in the
Read more »