Tuesday, June 17, 2008

Tax exemption law for minimum wage earners signed

President Arroyo on Tuesday signed into law Republic Act 9504 exempting minimum wage earners from paying income tax and increasing personal exemptions for other employees.
Under the new law, the tax exemptions will provide additional take-home pay of P34 a day or P750 a month for minimum wage earners. The new law also increases personal exemptions for salaried workers.
All holiday, night differential, hazard and overtime pay will also be tax exempt for minimum wage earners, both from the private and government sectors.

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