I have supported most of the actions of BIR Commissioner Kim Henares, while expressing concerns with the tendency to generalize everyone in professions such as law and medicine, to increase tax revenue because increased income of the government could theoretically be translated into programs that benefit the poor. However, on this aggressive approach to micro entrepreneurs, I draw the line and support Senator Bam Aquino. Aquino said charging taxes does not help these people in any way as it ‘becomes a burden to a sector that is situated below the poverty line.” To counter the circular, the neophyte senator has filed Senate Bill 2227, which seeks to exempt Marginal Income Earners (MIEs), including farmers, fishermen, tricycle drivers, small sari-sari storeowners and other micro-entrepreneurs, from payment of income tax. Under his proposed measure, Aquino said MIEs, or self-employed individuals who earn not more than P150,000 annually, should be spared from paying income tax, just like minimum wage earners. He noted that granting income tax exemption to minimum wage earners while subjecting our small businessmen to income tax was contrary to the mandate of the Constitution, there being no substantial distinction between them in terms of earning capacity.
Posted on: Sat, 17 May 2014 00:01:48 +0000
Trending Topics
Recently Viewed Topics
© 2015