{"id":41820,"date":"2015-02-11T10:44:50","date_gmt":"2015-02-11T02:44:50","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=41820"},"modified":"2015-02-11T10:47:54","modified_gmt":"2015-02-11T02:47:54","slug":"solon-filipinos-have-been-overtaxed","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/02\/11\/solon-filipinos-have-been-overtaxed\/","title":{"rendered":"Solon: Filipinos have been ‘overtaxed’"},"content":{"rendered":"
\"Bayan<\/a>
Bayan Muna Rep. Neri Colmenares (Facebook photo)<\/figcaption><\/figure>\n

MANILA — Bayan Muna Rep. Neri J. Colmenares said on Tuesday that Filipino taxpayers could have been “overtaxed” by up to P1.8 trillion.<\/p>\n

During a technical working group meeting of the House committee on ways and means, Colmenares said that the current taxation system remains unadjusted since 1997.<\/p>\n

He claims that P1.2 trillion to P1.8 trillion had been possibly collected in excess taxes from the income earners.<\/p>\n

In a Philippine Daily Inquirer report, Colmenares explained that the figure was derived from the initial computation of the income brackets imposed with taxes which remained unadjusted to inflation since 1997.<\/p>\n

The lawmaker is now calling on the government to return the excess taxes.<\/p>\n

\u201cIt\u2019s time for the government to return (the money) to the people. A lot of these taxpayers\u2019 money didn\u2019t go back to taxpayers at all,\u201d Colmenares said.<\/p>\n

The solon has earlier filed a Bill, HB No. 5401, aiming to restructure income brackets and their respective tax rates.<\/p>\n

He is proposing the imposition of income tax on earnings beyond an annual “living wage” of more than P300,000.<\/p>\n

He is also suggesting a “living wage” at P1,086 per day to assure “decent living.”<\/p>\n

The current tax rate is at 5-percent imposed on yearly taxable income of as low as P10,000. The rate goes up to 32 percent for those earning P500,000 and above.<\/p>\n

As of writing, there are at least 14\u00a0pending\u00a0measures proposing amendments to the National Internal Revenue Code of 1997. All of which aims to lower the income tax rates.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA — Bayan Muna Rep. Neri J. Colmenares said on Tuesday that Filipino taxpayers could have been “overtaxed” by up …<\/p>\n","protected":false},"author":44,"featured_media":38195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95,1],"tags":[],"class_list":["post-41820","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news-ph","category-uncategorized","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/41820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=41820"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/41820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/38195"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=41820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=41820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=41820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}