MANILA, Philippines — The Progress Bill seeking to raise the personal income tax exemption ceiling to P350,000 will also benefit workers earning above the proposed cap, the Bureau of Internal Revenue (BIR) clarified on Monday. BIR Deputy Commissioner Marissa Cabreros said raising the zero-tax baseline will trigger adjustments that lower tax deductions for the rest of the country’s workforce. READ: P350,000 income tax exemption ceiling bill hurdles House panel “Many assume that only those earning up to P350,000 will enjoy. That’s not correct because our income tax rates are graduated rates,” Cabreros told Bagong Pilipinas Ngayon in a mix of English […]...Keep on reading: BIR: P350,000 tax-free cap to also benefit workers earning above ceiling