Negosyante News

November 5, 2024 4:32 pm

Bill Granting Medical Frontliners 25% Income Tax Exemption Passed

IMG SOURCE: Owen Beard on Unsplash

The House of Representatives approved the final reading of House Bill 8259 or the Handog sa mga Bayaning Lumaban Kontra Covid-19 Act, exempting medical frontliners from paying 25% of income tax for 2020.

The voting was 235 affirmative, 0 negative and no abstention.

Joey Sarte Salceda, House Committee on Ways and Means Chairman, said “The 25% discount will likely cover the taxes they would have owed on their Covid-19 allowances. That was the state’s attempt to compensate them for their service. Let me be clear: I do not want the government to tax their heroism,”

 

Source: BusinessMirror

Comments are closed for this article!

Subscribe to Our Newsletter and get a free pdf:

Sign Up for negosyante news

and receive a copy of The Crypto Cheat Sheet (PDF)
and NFT Cheat Sheet for free!

* indicates required