Bill Type
Congress Name
Long Title
AN ACT AMENDING SECTION 24 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, REDUCING THE INCOME TAX RATES OF INDIVIDUALS
Date filed
October 20, 2005
Scope
Legislative History
| House Bill/Resolution NO. HB04865 | |
| FULL TITLE : AN ACT AMENDING SECTION 24 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, REDUCING THE INCOME TAX RATES OF INDIVIDUALS | |
| SHORT TITLE : "Individual Income Tax Reduction Act of 2005" | |
| ABSTRACT : "Individual Income Tax Reduction Act of 2005". The bill proposes to exempt from income taxation the first P50,000 of the taxable income of taxpayers. It also proposes to reduce the marginal tax rates. | |
| PRINCIPAL AUTHOR/S : ANA THERESIA "RISA" HONTIVEROS-BARAQUEL | |
| DATE FILED : 2005-10-20 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Aguja | 2. Rosales |
| CO-AUTHORS (Journal Entries) : | |
| 1. Hataman (030 ) | |
| 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 2005-11-07 |
Abstract
"Individual Income Tax Reduction Act of 2005". The bill proposes to exempt from income taxation the first P50,000 of the taxable income of taxpayers. It also proposes to reduce the marginal tax rates.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.