THE Senate ratified the Bicameral Conference Committee report late Wednesday on a priority bill seeking to make taxpaying easier.
In plenary session, Senator Sherwin T. Gatchalian, who led the Senate contingent to the bicameral session on Wednesday, said the reconciled version of Senate Bill No. 2224 and House Bill No. 4125 provides for taxpayer classification, a file-and-pay anywhere mechanism, exemptions for micro taxpayers from withholding taxes, a reduction in the penalties for micro and small taxpayers, and exemptions for overseas Filipino workers from filing income tax returns.
Mr. Gatchalian, who wrote the Senate version of the measure, said the proposal aims to modernize tax administration by removing outdated procedures which would improve the efficiency and compliance with tax obligations.
The Senate passed the measure on third and final reading on Monday, while the House of Representatives passed the counterpart bill in September. — John Victor D. Ordoñez
