House approves ease of paying taxes bill


HOUSE LEGISLATORS approved a measure on third reading Wednesday that would ease the process of tax filing to encourage payment.

House Bill 8942 or the proposed Ease of Paying Taxes Act seeks to remove venue restrictions for filers and introduce a medium taxpayer category.

The measure also seeks to remove the P500 annual taxpayer registration fee, create registration facilities for non-resident taxpayers, and establish a “Taxpayer’s Bill of Rights.”

The bill will also create a Taxpayer’s Advocate Office under the supervision of the Department of Finance. It will be independent of the Bureau of Internal Revenue (BIR).

The office is tasked with ensuring the protection of the rights of taxpayers and finding solutions to solve problems in the BIR that hinder efficient tax administration.

The measure seeks to amend sections of the National Internal Revenue Code of 1997. It was approved by the House Ways and Means Committee on Jan. 25 and was passed on second reading on Sept. 6.

The bill was among the priority measures listed by Speaker Lord Allan Jay Q. Velasco when plenary deliberations resumed for the third and final session of the 18th Congress on July 26.

Albay Rep. Jose Ma. Clemente S. Salceda, chairman of the House Ways and Means Committee, said that the bill, if signed, has the potential to generate an additional P73.1 billion in government revenue in the first five years of implementation. — Russell Louis C. Ku

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top