{"id":8559,"date":"2014-05-02T13:45:04","date_gmt":"2014-05-02T05:45:04","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=8559"},"modified":"2014-05-02T13:46:42","modified_gmt":"2014-05-02T05:46:42","slug":"sen-bam-aquino-files-bill-to-amend-tax-bracket-19977","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/05\/02\/sen-bam-aquino-files-bill-to-amend-tax-bracket-19977\/","title":{"rendered":"Sen. Bam Aquino files bill to amend tax bracket 1997"},"content":{"rendered":"<p><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bam-aquino.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8560\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bam-aquino.jpg\" alt=\"bam aquino\" width=\"960\" height=\"867\" \/><\/a><\/p>\n<p><em>Photo: Facebook Page of Senator Paolo Benigno \u201cBam\u201d Aquino IV<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>MANILA, Philippines \u2013 Revise tax bracket set in 1997.<\/p>\n<p>This is the goal of Senator Paolo Benigno \u201cBam\u201d Aquino IV in filing Senate Bill 1942.<\/p>\n<p>\u201cThe salary of a management-level employee 17 years ago will probably be equivalent to the salary of an entry-level call center agent today because of inflation and other economic factors,\u201d Aquino said.<\/p>\n<p>\u201cNow is the time to get this updated and be attuned to the present time.\u00a0We cannot continue using outdated tax brackets and a threshold which were approved seventeen years ago,\u201d he added.<\/p>\n<p>Through the measure, Section 24 of the National Internal Revenue Code of 1997 would be amended by adjusting the levels of net taxable income and simplifying the nominal tax rates in computing individual income tax based on current prices.<\/p>\n<p>It also aims to collect higher taxes from the upper one percent of taxpayers.<\/p>\n<p>\u201cThe Tax Reform Act effectively lowers the taxes on the Filipino working class, allowing them to enjoy a higher net income and increasing their purchasing power,\u201d Aquino said.<\/p>\n<p>A just tax system, according to the senator would support the government&#8217;s drive to encourage citizens to declare their true income pay and pay the right taxes.<\/p>\n<p>\u201cIt also supports the government\u2019s push for inclusive growth while ensuring that government is still able to raise funds for social programs that directly benefit the poor.\u00a0 It is a win-win solution that offers the greatest benefit to the greatest number of Filipinos,\u201d he said.<\/p>\n<p>He also assured that it would not have an adverse effect on small or medium-sized enterprises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Photo: Facebook Page of Senator Paolo Benigno \u201cBam\u201d Aquino IV &nbsp; MANILA, Philippines \u2013 Revise tax bracket set in 1997. &hellip;<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1145,95],"tags":[2753,2754],"class_list":["post-8559","post","type-post","status-publish","format-standard","category-headline","category-news-ph","tag-senator-paolo-benigno-bam-aquino-iv","tag-tax-bracket-1997","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/8559","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=8559"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/8559\/revisions"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=8559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=8559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=8559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}