28/12/2022
GOOD NEWS! 🙏
Majority of taxpayers will receive further personal income tax cuts beginning January 1, 2023, pursuant to Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law, which, among others, adjusted personal income tax rates, to make the tax system simpler, fairer, and more efficient.
"The TRAIN law adjusted personal income taxes and fixed the inequity of our tax system. We want our taxpayers to reap the fruits of their labor while enabling them to contribute their fair share to national development," said Finance Secretary Benjamin E. Diokno.
Read more: https://www.dof.gov.ph/train-law-to-further-reduce-personal-income-taxes-in-2023-onwards/
To receive on-the-go updates on the Philippine economy, JOIN the DOF Viber community: https://vb.me/dofcommunity