President Marcos wants the proposed tax reform package passed within the year, Malacañang said. In a Palace briefing, Palace Press Officer and Communications Undersecretary Claire Castro said the President wants the measure enacted sooner, stressing that the measures are intended to provide tax...
Navotas City lone district Rep. Tobias "Toby" Tiangco has joined the legislative effort to increase the annual income tax exemption threshold from ₱250,000 to ₱350,000, which no less than President Marcos sought in his latest State of the Nation Address (SONA). Tiangco filed House Bill (HB) No....
Net revenue could exceed ₱190 billion over four years if the Philippines implements a package bill that combines the revenue-eroding income tax exemptions with the revenue-offsetting measures proposed this year. Department of Finance (DOF) Undersecretary Karlo Fermin S. Adriano said the agency...
Senator Mark Villar has filed a measure seeking to exempt micro, small and medium enterprises (MSMEs) from the Minimum Corporate Income Tax (MCIT) saying it is imperative to provide them much-needed tax relief as they serve as the key driver of the Philippine economy. Villar, in filing Senate Bill...
Malacañang said the government is considering possible reforms in excise and health taxes to offset the P66 billion forgone revenues from President Marcos ' proposed tax relief package. Palace Press Officer and Communications Undersecretary Claire Castro said the Department of Finance (DOF)...
Vice President Sara Duterte 's husband, lawyer Manases "Mans" Carpio, on Friday, July 31, said his legal team believes there are significant legal issues surrounding the authorization to release their income tax records, arguing that the matter warrants judicial review under the Constitution...
TOKYO (Jiji Press) -- Japanese Prime Minister Sanae Takaichi on Thursday officially announced a plan to cut the consumption tax rate on food to 1 pct for two years starting next April. The government plans to lower the food tax rate to virtually zero through the envisaged consumption tax cut and...
President Marcos has given Congress a "clear policy direction" to finally provide meaningful tax relief to millions of Filipino workers whose purchasing power has been steadily eroded by inflation and the rising cost of living. Thus, said House Committee on Labor and Employment Chairperson Cavite...
President Marcos has authorized the Bureau of Internal Revenue (BIR) to submit the tax records of Vice President Sara Duterte and her husband, lawyer Manases "Mans" Carpio, to the Senate impeachment court, removing the last executive authorization needed for the disclosure of the documents sought...
Senator Christopher “Bong” Go has joined other lawmakers in pushing for a bill seeking to extend the estate tax amnesty period and provide more Filipino families with additional time to settle outstanding estate tax liabilities and complete the lawful transfer of inherited properties. In filing...
Senator Joseph Victor “JV” Ejercito is now pushing for a bill seeking to exempt workers and employees earning up to P50,000 per month—or P600,000 annually—from income tax. Ejercito, in filing Senate Bill No. 2341, which seeks to amend the National Internal Revenue Code to exempt...
The Bureau of Internal Revenue (BIR) expressed readiness to execute the tax reform agenda outlined by President Ferdinand R. Marcos Jr. during his 2026 State of the Nation Address (SONA). BIR Commissioner Charlito Martin R. Mendoza said the tax assessment agency is positioning itself to implement...
