Bill Type
Congress Name
Long Title
AN ACT PROVIDING EMERGENCY INCOME TAX RELIEF FOR ORDINARY TAXPAYERS AND RECALIBRATING 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
April 28, 2005
Scope
Legislative History
| House Bill/Resolution NO. HB04240 | |
| FULL TITLE : AN ACT PROVIDING EMERGENCY INCOME TAX RELIEF FOR ORDINARY TAXPAYERS AND RECALIBRATING 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 : The bill seeks to recalibrate the income tax rate structure for individual taxpayers, to wit: a) NOT OVER P240,000 - 0%; and b) over P250,000 but not over P500,000 - P50,000 + 30% OF THE EXCESS OVER P240,000. | |
| PRINCIPAL AUTHOR/S : CASI�O, TEODORO A. | |
| DATE FILED : 2005-04-28 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Ocampo | 2. Virador |
| 3. Maza | 4. Beltran |
| 5. Mariano | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Amin (067 ) | 2. Susano (067 ) |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITEE HEARINGS/ACTIONS: | |
| 1. Scheduled for first meeting/hearing on 2006-01-17 | |
| 2. Scheduled for first meeting/hearing on 2006-01-17 | |
| 3. Under deliberation by the Mother Committee on 2006-01-24 | |
| 4. Under deliberation by the Mother Committee on 2006-01-24 | |
| 5. Under deliberation by the Mother Committee on 2006-01-31 | |
| 6. Under deliberation by the Mother Committee on 2006-01-31 | |
| 7. Approved by the Committee on 2006-02-14 | |
| 8. Approved by the Committee on 2006-02-14 | |
| 9. Committee Report filed on 2006-02-23 | |
| 10. Committee Report filed on 2006-02-23 | |
| MOTHER BILL: HB05296 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2005-05-09 |
Abstract
The bill seeks to recalibrate the income tax rate structure for individual taxpayers, to wit: a) NOT OVER P240,000 - 0%; and b) over P250,000 but not over P500,000 - P50,000 + 30% OF THE EXCESS OVER P240,000.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.