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I think our progressive tax structure is pretty fair. The only thing I resent about is the taxpaying distribution. I think they (the government) put too much burden on compensation income earners, salaried workers in short.
Member rating: No Rating | Words: | Submitted: Thu Aug 21 2003
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I pay approximately P15, 000 a year for my income tax. It is more or less 30 percent of my taxable income. Taxable income refers to the total gross income less the deductions. These deductions come from the taxpayer's total expenses. Mine include: outside services; representation & entertainment; transportation & travel; fuel and oil; communications, light and water; supplies; taxes & licenses; depreciation; and lastly, miscellaneous. In other words, the 30 percent is that of my net or final income and not of my gross income, which I think is fair enough. Otherwise, it would be quite a sizable and painful amount considering all the expenses I have to pay for. I think our progressive tax structure is pretty fair. The only thing I resent about is the taxpaying distribution. I think they (the government) put too much burden on compensation income earners, salaried workers in...
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