MANILA, Philippines – The Tax Management Association of the Philippines (TMAP) has called on all those who want to see more take home pay to show solidarity in an online protest on Friday, October 30.
In a statement, TMAP said it believes that the advocacy for income tax reform is still relevant, with both the Executive and Legislative branches of government supposedly softening their stance on the proposed measure. (READ: Prioritize public needs over credit ratings, Angara tells gov’t)
At the very least, Congress is urged to update the 19-year-old income tax brackets for individuals.
Business groups earlier highlighted the inequity of the current tax system by pointing out that tax brackets have remained unchanged since 1986.
Since then, inflation has risen by more than 300%, resulting in “bracket creep,” as inflation has pushed up nominal wages and salaries into higher tax brackets – causing increases in taxable income but with no increase in purchasing power. (READ: Big business groups to Aquino: Reform taxes)
While the compromise proposal limited to updating the tax brackets is not the ideal solution to TMAP and business groups, the compromise would still help salaried individuals who are overtaxed and underserved.
The President’s latest statement on the proposed lower income tax rates – made before the Foreign Correspondents Association of the Philippines on Tuesday, October 27 – indicated he would not support the proposal. But TMAP is betting that a massive online presence would force Malacañang to take notice.
Taxpayers who wish to join Black Payday Friday are asked to do the following:
1. Wear black at work and encourage co-workers and friends to do the same
2. Change your online avatar or profile picture to black, and add the #TaxReformNow twibbon to your profile picture.
3. Take a selfie or groufie on October 30, 2015, while wearing black with the #TaxReformNow sign
4. Tweet or post a status message on what tax reform means to you, using the hashtag #TaxReformNow. – Rappler.com
Protesters mage via Shutterstock