Bill Type
Congress Name
Long Title
AN ACT REVISING THE INCOME TAX RATES OF INDIVIDUAL TAXPAYERS, AMENDING FOR THE PURPOSE CHAPTER III, SECTION 24(A)(1)(c) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED
Date filed
July 2, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 351, 12th Congress of the Republic | |
| FULL TITLE : AN ACT REVISING THE INCOME TAX RATES OF INDIVIDUAL TAXPAYERS, AMENDING FOR THE PURPOSE CHAPTER III, SECTION 24(A)(1)(c) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED | |
| ABSTRACT : Rationale: The proposed REDUCTION in the income tax rates would strengthen the purchasing power of our people's hard-earned money in order to afford them the capability to meet the demands of daily living. In this light, not only do we hope to address the present financial difficulties of our taxpayers by increasing their take-home pay, but also to improve the country's economy by augmenting the current rate of consumption with the end view of enhancing economic activity. | |
| PRINCIPAL AUTHOR/S : ABAYON, HARLIN CAST | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Badelles (010 ) | 2. Syjuco (041 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-07-24 |
Abstract
"Rationale: The proposed REDUCTION in the income tax rates would strengthen the purchasing power of our people's hard-earned money in order to afford them the capability to meet the demands of daily living. In this light, not only do we hope to address the present financial difficulties of our taxpayers by increasing their take-home pay, but also to improve the country's economy by augmenting the current rate of consumption with the end view of enhancing economic activity."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.