Legislative History
| House Bill/Resolution NO. House Bill No. 3221, 12th Congress of the Republic | |
| 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, PARAGRAPH 2 (C) OF REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS THE TAX REFORM ACT OF 1997 | |
| ABSTRACT : Rationale: It is submitted that the work involved for both taxpayers and the government in the filing of these returns would be considerably lessened if fixed income earners were exempted from the filing of income tax returns. Since their income taxes are already withheld by their employers, the filing of income earners, the certificates of withholding income may serve as proof of income, in lieu of income tax returns. > The exemption of fixed income earners from the filing of income tax returns would help the BIR meet its objective of simplifying and streamlining the country's entire tax of collection system. This would also contribute towards the improvement of the overall efficiency of the BIR. | |
| PRINCIPAL AUTHOR/S : ANGARA-CASTILLO, BELLAFLOR J. | |
| DATE FILED : 2001-09-25 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Espina (035 ) | 2. Espino (035 ) |
| 3. Echiverri (035 ) | 4. Barinaga (050 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| MOTHER BILL: House Bill No. 4111, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-09-28 |
Abstract
"Rationale: It is submitted that the work involved for both taxpayers and the government in the filing of these returns would be considerably lessened if fixed income earners were exempted from the filing of income tax returns. Since their income taxes are already withheld by their employers, the filing of income earners, the certificates of withholding income may serve as proof of income, in lieu of income tax returns. > The exemption of fixed income earners from the filing of income tax returns would help the BIR meet its objective of simplifying and streamlining the country's entire tax of collection system. This would also contribute towards the improvement of the overall efficiency of the BIR."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.