Sir, Greetings! I am regular employee of a private corporation for sixteen years now. Im planning to opt for early retirement four years from now to engage and concentrate in business of my own. Being the Senate Chairman on Committee on Labor, Employment and Human Resources, I would like to request your honor if you could review the existing policy on taxes on separation pay for those who want to retire early to engage in another endeavour. As we all know, taxes are being imposed on separation pay for those employees who did not reach the optional and mandatory retirement period. For me this is counterproductive since the separation pay recieved in full could have been used as capital for business or any new undertaking. I hope government should give chance to employees who opt to retire early to receive the separation pay in full free of all taxes. Government should encouraged people to become entreprenuer to help the economy and abolishing taxes on separation pay is a big incentive for us who are contemplating to retire early to engage in business. I hope you could act on my humble suggestion. Thank you very much Senator Jinggoy![email][/email][email][/email]
