Most of the poor in the informal labor sector already enjoy tax exemption, said Gabriela Women’s Party in a separate statement. This means they would be burdened by the increased tax on consumer goods without gaining from the income tax rate adjustments touted by the Duterte administration. “Filipinos will feel the reality of financial and economic comfort millions of Filipinos will feel next year, starting with more cash in their hands, pockets, and wallets because of the simplified and updated personal income tax,” he said. The excise tax on coal would be P50 per metric ton in 2018 and P150 by 2020. Lawmakers plan to look into the repeal of various tax incentives for “package 2” in 2018.

Source: Philippine Daily Inquirer December 19, 2017 08:37 UTC