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MANILA, Philippines – While welcoming moves to raise the threshold of annual income tax exemption to P350,000, the Federation of Free Workers (FFW) on Wednesday said this should be further increased to P500,000 to P600,000 amid the rising cost of basic goods and services.
“This is our computation: If P350,000 is the exemption, the biggest increase to the take-home pay is around P1,250 per month,” Sonny Matula, president of FFW, said in a Viber message to the Inquirer.
“But if this is raised to P500,000 up to P600,000, the increase in the take-home pay of workers will amount to around P3,500 up to P5,200 per month—a much more meaningful comfort amid the high prices of food, electricity, fares and other essential needs,” he added.
READ: Gov’t eyes tax relief for middle class Filipinos
