BIR: P350,000 tax-free cap to also benefit workers earning above ceiling

MANILA, Philippines — The Progress Bill seeking to raise the personal income tax exemption ceiling to P350,000 will also benefit workers earning above the proposed cap, the Bureau of Internal Revenue (BIR) clarified on Monday. BIR Deputy Commissioner Marissa Cabreros said raising the zero-tax baseline will trigger adjustments that lower tax deductions for the rest

By mmercado