Individual Taxpayers to have Lower Income Tax Rates in 2023
Individuals Earning Purely Compensation Income (including Non-Business/NonProfession Related Income and Single Proprietors) can look forward to higher take-home pay in 2023. This is per Republic Act (R.A.) No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which took effect on January 1, 2018. Under the TRAIN Law, starting January 1, …
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