Bill Type
Short Title
SIMPLIFIED NET INCOME TAXATION SCHEME
Text as Filed (File)
Third Reading Copy link (HRep)
Scope
Legislative Status
Legislative Status Date
Session Sequence No.
38
Session Type
Document Certification
All Information (Senate Website)
Legislative History (Senate Website)
Committee Referral (Senate Website)
Senate Legis Intranet Link
Legislative History
| House Bill/Resolution NO. HB05521 | |
| FULL TITLE : AN ACT ADOPTING THE SIMPLIFIED NET INCOME TAX SCHEME FOR INDIVIDUALS ENGAGED IN TRADE/BUSINESS AND/OR PRACTICE OF PROFESSION, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED | |
| SHORT TITLE : Adopting The Simplified Net Income Tax Scheme For Individuals Engaged In Trade/business And/or Practice Of Profession, Amending For The Purpose The National Internal Revenue Code Of 1997, As Amended | |
| ABSTRACT : Seeks to redefine "self-employed individuals" and "professionals" and provides them with a choice in computing the taxable income with a choice between availing of limited allowable deductions on the gross income or an optional standard deduction of 40% of gross income. | |
| PRINCIPAL AUTHOR/S : JAVIER, EXEQUIEL B. | |
| DATE FILED : 2008-11-13 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Nograles | 2. Defensor (A.) |
| CO-AUTHORS (Journal Entries) : | |
| 1. Susano (030 ) | 2. Villarosa (058 ) |
| AUTHORS(Final/Third Reading) : | |
| 1. Codilla | 2. Miraflores |
| DATE CERTIFIED AS URGENT:2008-12-01 | |
| URGENT BILL? Yes | |
| DATE CERTIFIED AS URGENT:2008-12-01 | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITEE HEARINGS/ACTIONS: | |
| 1. Committee Report filed on 2008-11-13 | |
| COMMITTEE REPORT NO. 01512 | |
| SUBMITTED ON 2008-11-13 | |
| SUBMITTED BY: WAYS AND MEANS | |
| RECOMMENDATIONS: approval | |
| SUBSTITUTED BILLS: HB05257 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON RULES ON 2008-11-17 | |
| DATE INCLUDED IN OB: 2008-11-17 | |
| DATE CALENDARED : 2008-11-18 | |
| SECOND READING INFORMATION | |
| FINAL LIST OF AUTHORS : Codilla, Miraflores | |
| DATE APPROVED ON SECOND READING : 2008-11-19 | |
| REMARKS : On Nov. 19, 2008, the Body approved to consider the Explanatory Note of the Bill as the sponsorship remarks on the measure; terminated the period of sponsorship and debate; terminated the period of amendments; and approved the same on Second Reading. | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2008-11-26 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2008-12-09 | |
| HOUSE VOTES: YEAS:167 NAYS:0 ABSTAIN:.0 | |
| DATE TRANSMITTED TO THE SENATE: 2008-12-17 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2008-12-17 | |
| REMARKS : |
Abstract
Seeks to redefine "self-employed individuals" and "professionals" and provides them with a choice in computing the taxable income with a choice between availing of limited allowable deductions on the gross income or an optional standard deduction of 40% of gross income.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.