"Implications and Effects of RA 9504 in your Business"

To alleviate taxpayer’s plight for government support and assistance especially during these trying times, President Gloria Macapagal-Arroyo signed Republic Act 9504 (otherwise known as the Tax Relief Package Law) last June 17, 2008. This new law exempts minimum wage earners from paying income tax, increasing tax exemption for all earners and additional exemptions for individuals with dependents/children. This meant to alleviate the pitiful condition of the low income group – especially laborers – who find it difficult to cope with the skyrocketing cost of living.