Bill Type
Congress Name
Long Title
AN ACT AMENDING SECTIONS 24(c) AND 35 OF REPUBLIC ACT NO. 8424 OTHERWISE KNOWN AS "THE TAX REFORM ACT OF 1997" AND FOR OTHER PURPOSES
Date filed
April 21, 2008
Scope
Legislative History
| House Bill/Resolution NO. HB03869 |
| FULL TITLE : AN ACT AMENDING SECTIONS 24(c) AND 35 OF REPUBLIC ACT NO. 8424 OTHERWISE KNOWN AS "THE TAX REFORM ACT OF 1997" AND FOR OTHER PURPOSES |
| ABSTRACT : The bill proposes to increase the personal exemption of individual taxpayers as follows: a) single - from P20,000 to P30,000; b) head of the family - from P25,000 to P50,000; and c) married individual - from P32,000 to P50,000. It also increase the additional exemption for dependents from P8,000 to P12,000 for each dependent not exceeding four. |
| PRINCIPAL AUTHOR/S : ROMUALDO, PEDRO P. |
| DATE FILED : 2008-04-21 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2008-04-23 |
Abstract
The bill proposes to increase the personal exemption of individual taxpayers as follows: a) single - from P20,000 to P30,000; b) head of the family - from P25,000 to P50,000; and c) married individual - from P32,000 to P50,000. It also increase the additional exemption for dependents from P8,000 to P12,000 for each dependent not exceeding four.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.