Arroyo signed in Malacañang Tuesday Republic Act 9504 or an act amending Sections 22, 24, 34, 35, 51, and 79 of RA 8424 or the National Internal Revenue Code of 1997.
From the current P20,000 personal exemption for single taxpayers, P25,000 for head of family, and P32,000 for married individual, the tax exemption will be fixed at P50,000.
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