BUREAU of Internal Revenue (BIR) Deputy Commissioner Clint Aranas said the implementation of increase in individuals tax exemptions is expected to be implemented before April next year.
Aranas, who is from Toboso, Negros Occidental, said the BIR is now trying to implement a simple and progressive taxation.
“The taxes would be very different. In fact the first P250,000 would be tax exempt and we will have a better equitable sharing in our tax payments as individuals,” he added.
He also said during his recent visit to Negros Occidental that the number of pages of income tax returns would be lowered from seven to two pages only.
“We will simplify compliance. The thrust really is to simplify and make it progressive,” Aranas added. (TDE)