Did you know that our tax system is not yet updated for the past 4 decades? That’s why with inflation and growth has taken over the tax system and made it imbalanced for entry level earners. One of the key points this administration pointed out is a balanced tax reform table for everyone, to ensure a better economy in the future.
The Department of Finance has made a new website to let you know your new tax if the upcoming tax reform should be implemented. The calculator already includes the deduction for Pag-Ibig, SSS, and Philhealth.
You can check your new tax on this website, just remember that the tax reform is not yet implemented but there are rumors that it is in pressure to pass the bill before the president’s 1st SONA.