Cebuanos laud tax cut
Customer service associate Darlene Hermano said she joined the millions of Filipinos who welcomed President Rodrigo Duterte’s announcement of plans to lower taxes.
“Apart from the benefit of having a good pay, Filipinos will have the chance to widen their allocations for retirement, life insurance and healthcare,” said Hermano whose monthly tax amounts to P3,000.
“It will encourage us to work harder, thus resulting to a better economy, and it will also bring back workers abroad,” Hermano said.
College teacher Symba Rhenae Alerta said the president’s announcement was welcome news.
“We, teachers, are happy for it because the money set for income tax will be saved or spent for personal needs and even instructional materials,” said Alerta whose monthly income tax is more than P2,000.
Another employee named Sheldon Cardosa, a reimbursement analyst whose monthly income tax is P900, said the plan to lower income tax is good for taxpayers and also for the country.
“This will also benefit the poor and the middle class the most,” Cardosa said.
A lower income tax will also mean more savings for marketing officer Irish Faith Ylanan who is taxed more than P2,000 monthly.
“A lot of Filipino workers have been looking forward to this promise. Lowering the tax would be a big help,” Ylanan told Cebu Daily News.
But Bureau of Internal Revenue (BIR) 13 legal officer Neri Yu said Congress should pass a law to amend the tax laws.
When asked how this would impact on the government’s revenue collection, Yu replied: “We cannot speculate.”
Maximo Rey Eleccion, president of the Cebu Bankers Club (CBC), said they welcome the reduction of personal and corporate taxes.
“Taxes are the lifeblood of government; government should promote tax efficiency to finance government spending. Fight corruption in the BIR and customs to compensate the loss brought by lowering of tax rates,” Eleccion said.
Sen. Juan Edgardo “Sonny” Angara welcomed yesterday President Rodrigo Duterte’s promise to cut income tax rates, vowing to push for legislation that would see its fruition.
“I am happy with President Duterte’s statements and we should give momentum to the push to reform our tax system,” said Angara, the chief lawmaker who proposed to lower income tax rates, factoring in inflation.
The Duterte administration had earlier said it was planning to bring down tax rates from the current 32 percent to 25 percent.
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