House Speaker Martin Romualdez made an important promise to the business community Tuesday, Nov. 22 during his speech at the 2022 Asia CEO Forum at Marriott Hotel in Pasay City.

In front of the captains of various industries, Romualdez, Leyte's 1st district congressman, laid out measures that he believes would help the Marcos administration achieve the goals of its prosperity roadmap.

The House leader promised businessmen that they would be consulted on these legislative proposals.

“As stakeholders, you will be consulted in every measure that we tackle, especially those involving commerce and industry. Please make your positions very clear on the issues...as I want all stakeholders heard before we pass these measures,” Romualdez said.

He highlighted in his speech that the House has already passed the proposed P5.268-trillion 2023 national budget, which includes a P1.528-trillion allocation for economic services.

“Following our participation at the ASEAN (Association of Southeast Asian Nations) Summit in Cambodia and at the APEC (Asia Pacific Economic Cooperation) meetings in Thailand where I joined the President, we in Congress are likewise determined to further study needed refinements in our laws, regulations and government policies so as to further attract foreign investments and create more jobs for Filipinos,” he noted.

The Speaker informed his audience that the House has also approved House Bill (HB) No. 4339, which is the last component of the Comprehensive Tax Reform Package (CTRP). The measure aims to simplify taxation of passive income, financial services and transactions by reducing the number of tax rates from 83 to 58.

“If we are able to enact this package as proposed, we will be able to complete one of the largest tax reform programs of any country in the world,” said Romualdez, president of the Lakas-Christian Muslim Democrats (Lakas-CMD) party.

The House has also approved the bills taxing single-use plastic bags and non-resident digital service providers, and the proposed Ease of Paying Taxes Act.

Just recently, President Ferdinand "Bongbong" Marcos Jr. signed into law the SIM Registration Bill, which requires the registration of all mobile subscriptions, whether postpaid or prepaid, in order to lessen mobile phone-aided scams and other illegal activities.

“In response to the President’s call to expedite the transition to a digital economy, Congress will prioritize the passage of the E-Governance Bill, which would significantly reduce, if not eliminate, red tape,” Romualdez said.

“In fact, I am hopeful that we can approved most of these measures before the year ends,” added Marcos's top ally in the legislature.