Philippine House Representative Roman T. Romulo has introduced proposed individual income tax changes in Bill 4880. The changes include adjusting the tax brackets, lowering the rates in 2016, and further lowering the rates in 2017. The proposed brackets and rates are as follows:

• PHP 20,000 to 70,000 - 13% in 2016 and 10% in 2017
• Over PHP 70,000 to PHP 200,000 - 18% in 2016 and 15% in 2017
• Over…