Reduced income tax rates effective January 1, 2023
(Republic Act No. 10963, effective January 1, 2018)
(Revenue Regulations No. 8-2018, issued on February 2, 2020)
This Tax Alert is issued to inform all concerned on the revised individual income tax rates applicable to citizens, resident aliens and non-resident aliens engaged in trade or business effective January 1, 2023.
Pursuant to TRAIN Law and as implemented by RR No. 8-2018, the income tax on the individual citizen, resident alien and non-resident alien engaged in trade or business' taxable income shall be computed based on the following schedule effective on January 1, 2023:
