Tax measures enacted during the Marcos Jr. administration are expected to raise a net amount of ₱27.8 billion in 2026, more than seven times the projected collections of only ₱3.8 billion in 2025.

The Bureau of Internal Revenue (BIR), the main tax agency, is projected to collect ₱21.4 billion next year from the 12-percent value-added tax (VAT) on digital services, a jump from just ₱3.6 billion this year, 2026 budget documents showed.

For the remaining years of the current administration, collections from this tax measure are forecast to increase by 6.5 percent to ₱22.8 billion in 2027, and by seven percent to ₱24.4 billion in 2028.

On top of this, the mining fiscal regime law is expected to contribute ₱5.8 billion in 2026. Department of Finance (DOF) Secretary Ralph G. Recto said earlier that this will soon be signed into law by President Ferdinand Marcos Jr.

Revenues from this tax measure are projected to increase by five percent to ₱6.1 billion in 2027, and by another 4.9 percent to ₱6.4 billion by the end of 2028.

Besides the mining fiscal regime, Recto also announced earlier this week that general tax amnesty and online gambling tax measures are being studied for enactment this year. Projected revenue collection targets for the planned tax amnesty are still unavailable, Recto said, but it will cover taxes handled by the BIR and the Bureau of Customs (BOC).

Based on the government’s list of priority measures for 2026, forgone revenues under the Capital Markets Efficiency Promotion Act (CMEPA) would amount to ₱4.9 billion in 2026, more than double the projected losses this year at ₱2.3 billion.

Projected losses for 2027 will gradually decline by six percent to ₱4.6 billion, and by 2.2 percent to ₱4.5 billion by the end of 2028.

Similarly, under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, losses would total ₱981 million, almost three times this year’s forgone revenues estimated at ₱342 million. Forgone government revenues from the CREATE MORE Law, as a result of tax incentives given away to investors, would balloon to ₱1.7 billion in 2027 and ₱2.9 billion in 2028.

Nina Asuncion, director at the DOF’s revenue operations group, told Manila Bulletin on Thursday, Aug. 14, that transactions are expected to spike following the enactment of CMEPA, which, in turn, will lead to higher losses in revenue.

“The expectation is there will be more transactions because of the lowering of taxes so the revenue loss will become higher,” Asuncion explained, emphasizing that the government is banking on other “economic and non-fiscal benefits” to counteract the anticipated losses.

“There are other economic and non-fiscal benefits that we are looking at to offset the revenue loss. But those are indirect—such as increased participation, financial inclusion, and so on,” Asuncion said.

Meanwhile, the BOC, the country’s second-largest tax collection agency, will rake in ₱6.5 billion in 2026 from the reinstated excise tax on pick-up trucks under CMEPA, up from ₱2.8 billion in 2025. This is expected to increase by 13.9 percent to ₱7.4 billion in 2027, and by 14 percent to ₱8.6 billion in 2028.

To help fund the ₱6.793-trillion 2026 national budget, government revenues are projected to reach nearly ₱5 trillion next year, boosted in part by a ₱101-billion target from privatization proceeds—massively higher than this year’s ₱5-billion goal.

According to the Marcos Jr. administration’s 2024-2028 fiscal program, this year’s revenue target of ₱4.52 trillion is expected to jump by 10.2 percent to ₱4.98 trillion in 2026. This would be equivalent to 16.2 percent of gross domestic product (GDP), up from 15.9 percent this year.

Target collections from taxes are set at ₱4.63 trillion for next year, higher by 10 percent from ₱4.21 trillion this year. This covers revenues to be raised by the BIR and the BOC.