An Act Lowering the Rates of Tax on Taxable Income of Individuals, Further Amending Section 24 of Republic Act No. 8424, Otherwise Known as the National Internal Revenue Code of 1997, as Amended
The bill proposes lower income‑tax rates for individuals, creating a new schedule that starts on 1 January 2027, with 0% tax for earnings up to P500,000 and progressive rates above that. It also includes standard separability, repealing, and effectivity clauses.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
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SBN-1685 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.