Several tax relief measures will be pursued by the government, President Marcos vowed, as he called on lawmakers to pass legislation aimed at helping the middle class amid the impacts of the crisis.

In his fifth State of the Nation Address (SONA) on Monday, July 27, Marcos announced at least three tax relief measures he wants passed into law. 

"So, to ensure the continued progress of the middle class amidst the lingering effects of the crisis, we will pursue tax relief measures that promote growth, generate revenue, and advance equity toward socio-economic sustainability," Marcos said in his speech. 

Marcos said the income tax exemption should be expanded to include those earning not more than P350,000 annually.

"Una, palawakin natin ang exemption sa income tax. Dagdagan natin ang mga manggagawang malilibre sa buwis sa kanilang kita. Isasama na natin ang mga kumikita ng hindi lalagpas sa 350,000 kada taon (First, let us expand the income tax exemption. Let us increase the number of workers exempt from paying income tax by including those earning up to P350,000 annually)," Marcos said.

At the same time, the President said the government will also reduce income tax rates for other workers.

Second, small businesses will no longer be subject to the minimum corporate income tax, Marcos declared. 

Third, Marcos announced that he will grant tax amnesty for unpaid taxes, including income tax, estate tax, donor's tax, and value-added tax (VAT).

The penalties associated with these unpaid taxes will be covered by the amnesty, he added.

"Kaya bilang natatanging proteksyon sa kanila at para mas mapakinabangan nila ang pinaghirpan nilang kita, nananawagan ako sa Kongreso upang maipasa ang batas na magbibigay ng bahagyang ginhawa para sa ating bayaring buwis (So, as a concrete way to protect them and help them make the most of their hard-earned income, I call on Congress to pass legislation that will provide tax relief to our people)," Marcos told lawmakers.