Sen. Sonny Angara is one of the public officials who are vocal about the need to lower taxes in the Philippines. Just last year, he filed a bill seeking to lower individual income tax brackets, from 15 percent to 10 percent for those earning between P20,000 to P70,000, and from 32 percent to 25 percent for those earning over P1 million.
Recently, the senator also posted a photo on his Facebook page comparing the income tax in the Philippines compared to other countries in Asia. According to the post:
An annual income equivalent to P500,000 or more is taxed at:
0% in Brunei
2% in Singapore
11% in Malaysia
12% in Laos
20% in Vietnam
20% in Cambodia
32% in the Philippines
The senator capped off his post with the caption: Boom! #taxreform needed #killingmesoftly #deathandtaxes #deathbytaxes
What do you think? Share your thoughts below!
I wouldn’t mind being taxed like that if we receive the same privileges as citizens of European countries. Free healthcare, education, etc.
It’s because their nation have enough resources and less population. Like in middle east countries, there’s less or no tax collected by their government infact, they are suppórting those who have business
sometimes i really wish when someone is stealing, he must recieve an equivalent amount of guilt like stealing 1m will make you think of 50% suicide
Is the revenue being invested in the infrastucture, poor and delapedated areas, education and job creating.? if not reduce the tax rates.
Tax rates for each income bracket must be changed and be adjusted for inflation. What P500,000 can buy in the 90’s can buy you less in 2015.