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Aug 27, 2014
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FHM Nation, did you know that the Philippines has one of the highest tax rates in Southeast Asia?

In an article published by The Philippine Daily Inquirer last Sunday, August 24, Senator Sonny Angara proposed that a tax reform must take place soon, and for a good reason.

"Our country suffers from inequalities, as the gaping chasm between the haves and have-nots persists," the senator notes. "Having our current tax system continue would exacerbate such an unjust situation. The middle-class, one-fourth of the country's total number of families, could shrink over time, falling into the ranks of the millions forced to live day-to-day."

We guess what Angara's trying to say is that the Filipinos are so overtaxed that it'll only be a matter of time before the middle class falls under the poverty line. We don't want that now, do we?

If you want to know how ruthless our taxation system is, check out some of the statistical data presented by the senator in his article...


3RD

The Philippines' ranking in marginal tax rates for ASEAN countries. Only Vietnam and Thailand are worse at imposing taxes, and they get to make up for it by having lower VAT rates than us.

Tax


P22,500

The taxable amount for Filipinos who make P140,000 to P250,000. Did you know that Singapore, Malaysia, Thailand, and Indonesia all have lower deductions for employees who make more than that?

Tax"Mahina ako sa numbers"


12%

The standard percentage of value added tax in the Philippines–the highest in Southeast Asia. Thailand and Singapore only have a VAT rate of seven percent.

Tax"Hindi na nga ako magka-kape"


32%

The highest individual income tax rate the Philippine government gets to impose on an employee. In comparison, Singapore's maximum individual income tax rate only falls at 20 percent.

Tax"Ang laking kagaguhan!"


NEXT: The average family can't
 even support itself 


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