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Home » Archives » 29. September 2008

Joys of tax-free saving and investing

September 29, 2008


By Ma. Salve Duplito
INQUIRER.net
First Posted 20:41:00 09/28/2008

THE LAND OF SMILES CALLED the Philippines is no happy place for a small saver or investor. This is a sentiment that has often been repeated among low-income groups to academicians to Makati-type executives.

It’s not just that developing the discipline to save regularly requires touch sacrifices; it is because the taxman’s bite on every peso your savings and investments earn is huge.

A new law called the Personal Equity Retirement Account (Pera) Bill is pregnant with promises to change all that. Financial professionals and ordinary Filipinos who are savings-conscious can hardly wait for the implementing rules and regulations of the law to be published and enforced.
(more…)

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