Simplified Income Tax for Self-Employed and Professionals

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Republic Act No. 7496: Simplified Income Tax for Self-Employed and Professionals

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Title Supreme Court: Simplified Income Tax for Self-Employed and Professionals

Law: Republic Act No. 7496

Decision Date: May 15, 1992

Republic Act No. 7496 establishes a simplified net income taxation scheme for self-employed individuals and professionals in the Philippines, aiming to ensure a fair and uniform tax system by imposing different tax rates based on income brackets and allowing deductions for business or professional expenses.

professionals

tax system

tax rates

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