Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR THE EXEMPTION OF FIXED INCOME EARNERS FROM THE FILING OF INCOME TAX RETURNS, AMENDING FOR THE PURPOSE SECTION 51 (A)(2)(b) OF REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS THE 'TAX REFORM ACT OF 1997'
Text as filed (link)
Date filed
July 1, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB00260 |
| FULL TITLE : AN ACT PROVIDING FOR THE EXEMPTION OF FIXED INCOME EARNERS FROM THE FILING OF INCOME TAX RETURNS, AMENDING FOR THE PURPOSE SECTION 51 (A)(2)(b) OF REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS THE 'TAX REFORM ACT OF 1997' |
| ABSTRACT : The issuance of certificates of withholding tax to fixed income earners by their employers already serves as a proof of tax payment hence the filing of income tax returns would serve as an added burden not only to these people but also for the government. This bill proposes to simplify the system of tax collection and administration by exempting fixed income earners from the filing of income tax returns. |
| PRINCIPAL AUTHOR/S : DADIVAS, RODRIGUEZ D. |
| DATE FILED : 2004-07-01 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2004-07-27 |
Abstract
The issuance of certificates of withholding tax to fixed income earners by their employers already serves as a proof of tax payment hence the filing of income tax returns would serve as an added burden not only to these people but also for the government. This bill proposes to simplify the system of tax collection and administration by exempting fixed income earners from the filing of income tax returns.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.