This is really good news especially for the millions of salaried workers in the Philippines. Senator Francis “Chiz” Escudero, the leading vice presidential candidate for the 2016 elections, says workers could expect a higher take-home pay by the last quarter of 2016 if his running mate, presidential candidate Senator Grace Poe, wins the presidency next year.
Escudero says through the reduction of income tax rates, the Filipino workers would receive higher take-home payments.
The reduction of the income tax rates would be the priority of Poe in her first 100 days in office, consistent with the Poe-Chiz tandem’s plan to install a “government with a heart.”
Escudero, the former chairman of the Senate Committee on Finance, said that while the government cannot promise a pay hike that would cover all workers in the public and private sectors, it may impose lower income taxes to boost their take-home pay and help them keep up with the rising cost of living.
“Alam kong mahirap pataasin ang sweldo pero hindi mo man magawa iyan; mapapalaki mo ang take-home pay ng ating mga kababayan kung bababaan lamang ang buwis,” said Escudero, the leading vice-presidential candidate.
“Layunin namin ni Sen. Grace na babaan ang buwis at ipasa ang panukalang batas na ‘yan sa unang isandaang araw ng kanyang termino para ipakita at patunayan na simula pa lang hanggang sa dulo na may puso ang pamahalaan na nais naming itayo at itatag,” he added.
Poe and Escudero, both independent candidates, are running under the platform of genuine inclusive growth, full transparency and global competitiveness.
Escudero insisted that lowering the income tax, which at 32 percent is the highest in Southeast Asia, is the best way to ease the burden of salaried workers who pay the biggest chunk of the total income tax collected by the government.
Escudero noted that in the last five years, private sector workers have received minimal pay hikes, the latest of which was in April this year when the National Wages and Productivity Commission implemented a P15 adjustment in the daily minimum wage in Metro Manila, raising the minimum pay to P481 for workers in the non-agriculture sector.
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