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October 20, 2014
Monday, May 12, 2014

The proposals in a nutshell

UNEN-Broad Front:

- Tax floor raised to 28,800 pesos and new tax brackets, with the highest income earners (approx. 360,000 pesos per month) paying between 35 and 41 percent

- Tax reintroduced on capital gains, possible tax on gambling

- Introduction of a sliding scale so that the tax floor would be updated automatically according to changes in the RIPTE index

PRO: Tax floor raised to 19,500 pesos, but adjustable according to variations in average salaries and if necessary, downwards if tax revenues decline

FIT: Tax floor set at three times the value of family basket of goods, as defined by union institutes, and currently worth approximately 30,000 pesos

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