Marginal Income Earner, Senate Bill No. 2227

Marginal Income Earner, Senate Bill No 2227
by #Senator_Bam_Aquino

In the stated #Senate_Bill, #Bam suggested that those who are earning P150,000 and below annually shall be exempted from paying income tax, value-added income tax and percentage tax (source Interaksyon.com).

The said Senate Bill only reiterated the personal exemption of P50,000 and additional exemption of P100,000 for maximum of four (4) dependents of all individual taxpayers whether engaged in business or not (Total P150,000). Instead of earnings, it must say, "P5,000,000 and below cash sales and net receipts shall be exempted from any local and national tax."

#ETM is suggesting to Bam to improve the Barangay Micro Business Enterprise Law (#BMBE) which exempts business persons having a total assets of P3,000,000 and below from income tax but is subjecting the same to value-added/percentage tax.

#Kataxpayer is recommending that those individuals who have an asset based of P5,000,000 and below (subject to an automatic upward adjustment based on Consumer Price Index) shall be exempted in paying income tax, value added tax/percentage tax, but must withhold a tax from their purchases and are to be required to file ITR annually.

#Katax group is much willing to participate in drafting a law that would protect the interest of the small and medium individual taxpayers.

THE FILING #USELESS_BILLS SHOULD ALWAYS BE AVOIDED.

If you have a Comment about this issue, please place the same on the space below.

FREE TAX ACCOUNTING SEMINAR-WORKSHOP
"Correct Tax Accountancy, the Key Against Tax Deficiency."

"OPTIONAL STANDARD DEDUCTION (#OSD)"#TAXACCOUNTINGCOURSE FOR #VAT AND #NON_VATINDIVIDUAL TAXPAYERS AND SMEs,
Sofitel Hotel, June 18-19, 2014 (2-5p, 9-12a, 2-5p)

Attend those who
1. failed and flunked the CPA Board Exams
2. are offering a bookkeeping service
3. are not satisfied with their CPAs' services
4. have tax problems and BIR investigations
5. are being BIR-oppressed and -harassed
6. are being pushed to bribe a BIR officer
7. want to increase to pursue a 'Entrepreneur' dream
8. don't want to be ignorant of the tax rules

Must do. ...... ........
1. Share this message to at least 50 of your contacts
2. Bring 48 copies of 2551M, 32 copies of 2550M, 12 copies of 2550Q, 12 copies of 1701Q, 8 copies of 1701, general journal, general ledger and 10-column book
3. Bring a least two (2) friends

To semi-qualify
a. Enroll your NAME, EMAIL & MOBILE via the "Comment".
b. Only 100 taxpayers shall be accommodated.
c. This Offer is valid until June 11, 2014 5pm.
d. A Sofitel-snack shall be served.
e. A Certificate of Attendance shall be provided

Requirements: (Books)
P2,500 - "Tax Accounting Code Shall Prevail."
P1,500 - "BIR Form for Tax Accounting Course"

Katax's contact details
Kataxpayer.Juliet@gmail.com
Katax.Jocelyn@gmail.com
katax.boyet@gmail.com
katax.erick@gmail.com
katax.toto@gmail.com
katax.sonia@gmail.com
katax.juliet@gmail.com
02-439 3918
02-921 6107
0922 801 0922
0998 979 3922
Unit 419 Corporate 101, Mother Ignacia, Quezon City

Applicable terms and conditions are being enforced.
Subject to change without notice and obligation.