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FIRST PAYCHECK President Aquino shows off his P63,002.17 paycheck for July, his first as President. He received the Landbank check on Monday. The RP President has a monthly salary of P95,000. JAY MORALES/MALACAÑANG PHOTO BUREAU




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Aquino’s first paycheck goes straight to the bank


Philippine Daily Inquirer
First Posted 23:52:00 08/04/2010

Filed Under: Benigno Aquino III, Wages & Pensions, Government

PRESIDENT AQUINO has received his first paycheck?a net amount of P63,000 that went straight to the bank, according to his spokesperson Edwin Lacierda.

Lacierda could not provide more details about the President?s salary.

The President, who was sworn into office on June 30, receives a monthly gross income of P95,000 or P1.14 million a year, excluding his 13th-month pay.

Mr. Aquino?s hefty deduction of P32,000 can be explained by his civil status. As a bachelor, he is not entitled to exemptions enjoyed by a taxpayer who has children.

Assistant Secretary Rey Marfil of the Presidential Communications Group said the deductions would include those from PhilHealth, Government Service Insurance System and the Bureau of Internal Revenue.

Executive Order No. 900, signed into law on June 23, by then President Gloria Macapagal-Arroyo, has raised the salary of the President by 64.5 percent from P57,750 to P95,000.

The EO mandates salary increases for civilian and military employees effective June 24.

The President has the highest salary grade (at 33) in the bureaucracy. There are some 1 million government employees. Cathy Yamsuan and Inquirer Research



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