TMAP in the News:Tax to death - George S. Chua, Free Enterprise column, BusinessMirror, August 26, 2014 #LowerIncomeTaxNow THANKS to the Tax Management Association of the Philippines for the recent media interest in the truth that the Philippines has the highest tax rate in Asean. At our current tax bracket of P500,000 a year, individuals will have to pay 32-percent income tax. Strangely enough corporations only have to pay the maximum rate of 30 percent. In comparison, the tax rates for other Asean countries for that bracket would be 20 percent for Cambodia and Vietnam, 12 percent for Lao PDR, 11 percent for Malaysia, 10 percent for Thailand, 2 percent for Singapore and 0 percent for Brunei Darussalam, yes zero.
Posted on: Mon, 01 Sep 2014 00:23:53 +0000
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