prEttyNdisTress
Jun 13, 2009, 06:34 PM
Let's talk about your TAX...
I believe there are lots of Working people in here and I want to hear how you feel on the tax being deducted in your monthly salary.
Marami kasi sa atin na hindi alam what is right and wrong those especially who have no knowledge on what is right living in a 3rd world country with bwayas governing the law.
Meron kasi thread on "baha"... which makes me think na since kid pa ako, baha na dyan hangang pa naman ngayon? I have worked in Manila for 8-9 years and with my last 3 years working there my monthly tax deduction is more or less 10,000PHP... Is this fair?
In USA, let's use California as an example as it's the highest tax state in the US.. This is how their TAX being calculated
#
Step 1
Identify the three lowest California tax brackets. If you earn approximately $6,000 or less, your tax rate is 1 percent. Earnings ranging from approximately $6,000 to $14,000 are taxed at a 2-percent rate. People whose earnings fall between approximately $14,500 and $23,000 pay 3-percent income tax in California.
#
Step 2
Learn the tax rates for people earning higher incomes. A 6-percent tax rate applies to individuals earning approximately $23,000 to $32,000. You'll pay 8 percent on income between about $32,000 and $40,000, and the highest tax bracket in California is the 9.3 percent bracket, applied to earnings exceeding $40,000.
#
Step 3
Remember that you only have to pay income tax on taxable income, which is your total income minus any tax deductions you are permitted. The tax deductions you will qualify for vary greatly, depending on your personal situation. However, if you're self-employed or the sole supporter of dependents, especially children, you may qualify for a number of deductions that could save significant money on your income tax.
HONG KONG
In Hong Kong, minimum wage here is around HKD$8,000 and their tax isn't that high as well. For those working in the corporate world, you can buy a decent lunch for HKD20 that normally looks like this
http://i153.photobucket.com/albums/s209/prEttyNdistress/Hong%20Kong%202009/DSC09631.jpg
This is typical lunch set in HK for 20hkd... and super busog ka nyan..
In the Philippines, minimum wage is 8,000 pesos. Canteen, Jolly Jeep, food court, the food is ranging 60 pesos to 150 pesos para mabusog ka. Then you are already being taxed at 20% of your salary..
sheesh!! The Tax system in the Pinas is So UNFAIR!! High cost of living and yet it's a 3rd world country with low salary wages. Also, what's funny here is you can;t borrow money from your own SSS if you are not working... stupid at it may sounds... pero it's a fcuk up system!! :angry:
Sabi ng friend ko na Indonesian. Why waste your energy at the rally trying to put down an actor while you can used that and rally on the TAX system.. at least, if the rally works mabubusog pa pamilya nyo... Nabusog ba kayo sa pag sibak sa isang actor? :hmm:
He made a point.... So, what do you think of your TAX? Is it really fair?
I believe there are lots of Working people in here and I want to hear how you feel on the tax being deducted in your monthly salary.
Marami kasi sa atin na hindi alam what is right and wrong those especially who have no knowledge on what is right living in a 3rd world country with bwayas governing the law.
Meron kasi thread on "baha"... which makes me think na since kid pa ako, baha na dyan hangang pa naman ngayon? I have worked in Manila for 8-9 years and with my last 3 years working there my monthly tax deduction is more or less 10,000PHP... Is this fair?
In USA, let's use California as an example as it's the highest tax state in the US.. This is how their TAX being calculated
#
Step 1
Identify the three lowest California tax brackets. If you earn approximately $6,000 or less, your tax rate is 1 percent. Earnings ranging from approximately $6,000 to $14,000 are taxed at a 2-percent rate. People whose earnings fall between approximately $14,500 and $23,000 pay 3-percent income tax in California.
#
Step 2
Learn the tax rates for people earning higher incomes. A 6-percent tax rate applies to individuals earning approximately $23,000 to $32,000. You'll pay 8 percent on income between about $32,000 and $40,000, and the highest tax bracket in California is the 9.3 percent bracket, applied to earnings exceeding $40,000.
#
Step 3
Remember that you only have to pay income tax on taxable income, which is your total income minus any tax deductions you are permitted. The tax deductions you will qualify for vary greatly, depending on your personal situation. However, if you're self-employed or the sole supporter of dependents, especially children, you may qualify for a number of deductions that could save significant money on your income tax.
HONG KONG
In Hong Kong, minimum wage here is around HKD$8,000 and their tax isn't that high as well. For those working in the corporate world, you can buy a decent lunch for HKD20 that normally looks like this
http://i153.photobucket.com/albums/s209/prEttyNdistress/Hong%20Kong%202009/DSC09631.jpg
This is typical lunch set in HK for 20hkd... and super busog ka nyan..
In the Philippines, minimum wage is 8,000 pesos. Canteen, Jolly Jeep, food court, the food is ranging 60 pesos to 150 pesos para mabusog ka. Then you are already being taxed at 20% of your salary..
sheesh!! The Tax system in the Pinas is So UNFAIR!! High cost of living and yet it's a 3rd world country with low salary wages. Also, what's funny here is you can;t borrow money from your own SSS if you are not working... stupid at it may sounds... pero it's a fcuk up system!! :angry:
Sabi ng friend ko na Indonesian. Why waste your energy at the rally trying to put down an actor while you can used that and rally on the TAX system.. at least, if the rally works mabubusog pa pamilya nyo... Nabusog ba kayo sa pag sibak sa isang actor? :hmm:
He made a point.... So, what do you think of your TAX? Is it really fair?