July 18, 2008 - Philippines will get 8.1 earthquake, thousands of people will die.

PLS. LET US BE ALERT AND MARK THIS DATE JULY 18, 2008, FRIDAY. LETS BE PREPARED, AND LET US ALL PRAY THAT THIS WILL NOT HAPPEN TO US.

IF POSSIBLE: PLS. DONT GO TO WORK ESPECIALLY THOSE WITH OFFICE LOCATED IN HIGH PLACES, BUILDINGS, CONDOS AND MALLS.

NOTHING TO LOSE IN THIS KIND OF REMINDER. MAYBE, THIS IS GODS WAY TO SAVE YOU, YOUR FAMILY , YOUR FRIENDS AND YOUR OFFICEMATES OR LESSEN CASUALTIES.

LETS ALL PRAY AND MARK THIS DATE.

PLS. FORWARD TO ALL YOUR CONTACT LIST TO WARN YOUR RELATIVES, FRIENDS AND YOUR LOVED ONES AND ALL PEOPLE LIVING IN THE PHILIPPINES .

AGAIN: REMEMBER JULY 18, 2008 – HAVE AN ALARM ON THIS DATE.

Let us PRAY that none of those foreseen event would ever happen. Believe in God and you’ll see his kindness.

Good News!!!

MANILA, Philippines - (UPDATE) President Gloria Macapagal-Arroyo has signed
into law a bill that would exempt minimum wage earners from paying income
tax and increasing personal exemptions for other employees.

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.



Senators Manuel Roxas, Francis Escudero, Juan Ponce Enrile, and Ramon
"Bong"
Revilla Jr. and Speaker Prospero Nograles were present during the signing.

The law aims "to provide financial relief to taxpayers in cognizance by
the
government of the hard times brought by multiple factors, including the
current rice crisis, oil price hikes and the heightening inflationary
pressure on commodities of all kinds and to help
reduce the wide tax gap in
the taxation of self-employed and professionals," according to the
five-page
document released to media.

Senator Manuel Roxas, principal author of the measure, said the new law
would "provide relief to our workers by increasing their take home
pay."

He added that the law would allow minimum wage earners to take home as much
as P750 a month or from P33 to P35 a day.

"A worker in Metro Manila earning P7,900 a month will now have an
additional
P750 of take-home pay per month, or P34 per day. He can now spend this
additional money for his needs or for his family's needs, such as food,
medicine, and the tuition fee of his children, among other uses," Roxas
said.

But apart from tax exemption for minimum wage earners, the law will also
provide for an increase in the personal exemption of all taxpayers.

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, Roxas said.

The additional exemption for dependents will increase from P8,000 to
P25,000, he said.

The senator added that all holiday, night differential, hazard, and overtime
pay would also be tax-exempt.

He added that the aim of both the House of Representatives and Senate was
not only to
increase tax exemption for workers but also to provide relief
for minimum wage earners.

"The House focuses on increasing the exemption while I focus on minimum
wage," he said.

"We have fought for this for a long time. Many Labor Days have come and
gone
wherein we fought for this for our workers, and at last, income tax
exemption of minimum wage earners is now a law," said Roxas in an
interview
Monday.

For other salaried workers, the measure would allow an employee earning P455
per day or P10,010 per month to have an additional take-home pay of P472.59
per month or P5,671.02 per year if unmarried; P678.50 per month or P8,142.04
per year as head of the family; and P580.92 per month or P6,971.02 per year
for those married with four children.

An employee earning P683 per day or P15,026 per month would have an
additional take-home pay of P545.26 per month or P6,543.10 per year if
unmarried; P1,307.18 per
month or P15,686.20 per year as head of the family;
and P1,190.52 per month or P14,286.20 per year for those married with four
children.

Although the government is expected to lose around P14 billion a year with
the new law, the government hopes to recover this through the optional
standard deductions (OSD), which will "simplify the filing of income tax
returns and benefits, in particular, professionals and medium, small, and
micro entrepreneurs," according to the law.

The OSD
will rake in P15.03 billion tax revenues annually.

The law is said to take effect 15 days after its publication in a national
newspaper.

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