Tiangco eyes bigger take-home pay for middle class Pinoys; files bill in response to SONA

Tiangco eyes bigger take-home pay for middle class Pinoys; files bill in response to SONA

Navotas City lone district Rep. Tobias "Toby" Tiangco has joined the legislative effort to increase the annual income tax exemption threshold from ₱250,000 to ₱350,000, which no less than President Marcos sought in his latest State of the Nation Address (SONA).Tiangco filed House Bill (HB) No. 10451, which also sought to adjust the income tax structure to maintain the progressive nature of the country's income tax system.He says this ensures tha…

Toby Tiangco files bill raising income tax exemption threshold to ₱350,000

Navotas City Rep. Tobias “Toby” Tiangco has filed a measure seeking to raise the annual income tax exemption threshold from ₱250,000 to ₱350,000, a move he said would provide much-needed relief to Filipino workers amid rising living costs. Under House Bill No. 10451, individuals earning ₱350,000 or less in annual taxable income would no longer pay income tax. The proposal also adjusts the succeeding income tax brackets to preserve the country’s …