Bill Type
Congress Name
Long Title
AN ACT INCREASING THE ALLOWABLE PERSONAL AND ADDITIONAL EXEMPTIONS OF INDIVIDUAL TAXPAYERS, AMENDING FOR THE PURPOSE SECTIONS 35 (A) AND (B) OF THE NATIONAL INTERNAL REVENUE CODE AS AMENDED BY REPUBLIC ACT NO. 8424
Date filed
June 27, 2002
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 4948, 12th Congress of the Republic | |
| FULL TITLE : AN ACT INCREASING THE ALLOWABLE PERSONAL AND ADDITIONAL EXEMPTIONS OF INDIVIDUAL TAXPAYERS, AMENDING FOR THE PURPOSE SECTIONS 35 (A) AND (B) OF THE NATIONAL INTERNAL REVENUE CODE AS AMENDED BY REPUBLIC ACT NO. 8424 | |
| ABSTRACT : This bill proposes the following basic personal tax exemption scheme for individual taxpayers: For single individual or married individual judicially decreed as legally separated with no qualified dependents [P20,000] P40,000 > For head of a family[P25,000] 50,000 > For each married individual [P32,000] 64,000 > Additional Exexemption for Depedents. - There shall be allowed an additional exemption of {Eight Thousand Pesos [P8,000] Sixteen Thousand Pesos (P16,000) for each depedent not exceeding four (4). | |
| PRINCIPAL AUTHOR/S : ANDAYA, ROLANDO JR. G. | |
| DATE FILED : 2002-06-27 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Umali (004 ) | 2. Uy (004 ) |
| 3. Ylagan (004 ) | 4. Calalay (006 ) |
| 5. Tulagan (006 ) | 6. Amin (007 ) |
| 7. Silverio (009 ) | 8. Del Mar (014 ) |
| 9. Soon-ruiz (015 ) | 10. Espina (027 ) |
| 11. Mathay (028 ) | 12. Echiverri (032 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2002-07-29 |
Abstract
This bill proposes the following basic personal tax exemption scheme for individual taxpayers: For single individual or married individual judicially decreed as legally separated with no qualified dependents [P20,000] P40,000 > For head of a family[P25,000] 50,000 > For each married individual [P32,000] 64,000 > Additional Exexemption for Depedents. - There shall be allowed an additional exemption of {Eight Thousand Pesos [P8,000] Sixteen Thousand Pesos (P16,000) for each depedent not exceeding four (4).
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.