Republic Act 9504 - Tax Exemptions for Minimum Wage Earners and Increased Tax Exemptions
Posted by hteodosio on Jun-18-2008
Yesterday our beloved President Gloria Macapagal Arroyo signed Republic Act 9504 which exempts minimum wage earners from taxes.
This law targets financial relief to taxpayers in cognizance by the government of the hard times brought by multiple factors, with the examples of the current rice crisis, oil price hikes and the heightening inflationary pressure on commodities of all kinds and to help reduce the wide tax gap in the taxation of self-employed and professionals.
This Law will take affect after 15 days.
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