The Department of Finance submitted tax reform packages to the Congress on 29th of September 2016.
Under the tax reform packages the personal income tax rate decreased from 32% to 25% for taxpayers earning between PHP 500,001 to PHP 800,00; Excise tax on gasoline Increased from PHP 4.35 to PHP 10.00 per litre and tax rate increased for diesel at Zero to PHP 6.00 per litre.
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