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LawmakingAwaiting Verdict

HB1563 - AN ACТ AMENDING SECTION 24 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED

Arman DimaguilaRepresentative, 1st District of BiñanJul 8, 2025

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Description

The TRAIN law was enacted in December 2017 and took effect on January 1, 2018, amending the income tax rates for individuals. Meanwhile, several laws were passed like the EOPT, VAT on Digital Providers, CREATE Act, CREATE More, and the CMEPA, that amended several provisions of the NIRC as amended. Incentives were provided to certain sectors of taxpayers. It is about time that individual income taxpayers are given relief from the tax burden by amending the tax schedules imposed under the TRAIN LAW, increasing the threshold exempt from the tax, and lowering the rates accordingly. This is in pursuit of fairness and compassion for our taxpayers, especially the middle-income tax group. In view of the foregoing, the immediate passage of this bill is earnestly sought. For further reading: https://docs.congress.hrep.online/legisdocs/basic_20/HB01563.pdf https://www.congress.gov.ph/house-members/view/?member=L031&name=DIMAGUILA%2C+WALFREDO+%22ARMAN%22+R.%2C+JR.&page=0

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Quality Score: 35/100

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Details
DateJul 8, 2025
JurisdictionBiñan
Verification
SubmittedMar 20, 2026
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