Bill Type
Congress Name
Long Title
AN ACT AMENDING CERTAIN PROVISIONS OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED(RE: INCOME TAX REFORM ACT)
Date filed
September 4, 2002
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 5221, 12th Congress of the Republic |
| FULL TITLE : AN ACT AMENDING CERTAIN PROVISIONS OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED(RE: INCOME TAX REFORM ACT) |
| ABSTRACT : "Income Tax Reform Act of 2001." This bill seeks to introduce reforms in the income tax system by: (1) Subjecting the corporations and self-employed individuals to a single tax rate based on gross income; and (2) Amending the income tax schedule applicable to compensation earners by lowering the marginal tax rates for low and middle income taxpayers and changing the rangers of taxable incomes. |
| PRINCIPAL AUTHOR/S : LEDESMA, JULIO IV A. |
| DATE FILED : 2002-09-04 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2002-09-30 |
Abstract
"Income Tax Reform Act of 2001." This bill seeks to introduce reforms in the income tax system by: (1) Subjecting the corporations and self-employed individuals to a single tax rate based on gross income; and (2) Amending the income tax schedule applicable to compensation earners by lowering the marginal tax rates for low and middle income taxpayers and changing the rangers of taxable incomes.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.