As much as an P11,000 reduction in annual income tax dues for individuals earning at least P15,000 a month has been proposed in the House of Representatives.
The proposal was made in House Bill 4099 filed by Rep. Magtanggol Gunigundo of Valenzuela City (Metro Manila) that seeks to lower the current 32 percent income tax for individuals and the current 30 percent income tax for corporations.
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