From Mr Andrei Gonzales facebook/andrei.gonzales Doing some tax calculations, and it appears that the cost of taxes in the Philippines ends up being higher than that of New York Citys, which has one of the highest tax rates in the US. Not to mention the raised cost of electricity now means were either the highest or second highest in Asia. Ergo, our rates are higher than that of Englands. Also, the current cost of our gasoline is either on par or higher than in the US. Yet the average salary is lower than the equivalent in other developing countries, like India. None of this makes sense. SMH. ::EDIT:: I just noticed that this is being shared around a bit. Just to add: we still have to confirm our calculations with our accountants and legal counsel, but I do plan to post a comparative breakdown (with NYCs tax) after weve figured out how everything adds up. But honestly, all that is going to do is expose the fact that the average Philippine income/expense ratio is completely broken.
Posted on: Mon, 16 Dec 2013 04:04:25 +0000
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