Tags / Tax rates
Tax rates
Measures (1)
SBN-1685bill · in_committee
LOWERING THE RATES OF TAX ON TAXABLE INCOME OF INDIVIDUALS
This bill aims to lower the tax rates on taxable income for individuals by amending Section 24 of the National Internal Revenue Code of 1997. It proposes a new tax schedule effective from January 1, 2027, which includes a 0% tax rate for income not exceeding ₱500,000 and progressively higher rates for higher income brackets.