TACLOBAN CITY — Southern Leyte second district Rep. Christophershon Yap has filed a bill increasing the tax exemption on taxable income to P500,000. House Bill 10505 aims to amend the National Internal Revenue Code of 1997, as amended, by imposing a zero percent tax rate for individual...
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....
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...
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...
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...
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...
Senator Paolo “Bam” Aquino IV on Friday, July 24 pushed for the passage of the bill seeking to raise the annual income tax exemption threshold from P250,000 to P480,000. Aquino said this would increase the take-home pay of more Filipino workers and help them cope with the already high cost of...
The national government’s (NG) usual April budget surplus shrank by more than half this year after the annual income tax returns (AITRs) filing and payment deadline was extended by one month due to the national energy emergency, although revenues were partly supported by millions of pesos in...
The Bureau of Internal Revenue (BIR) issued a final call to taxpayers to settle their obligations on Friday, May 15, the end of the one-month extension for the 2025 tax year. In a statement, BIR Commissioner Charlito Martin R. Mendoza urged the public to utilize electronic channels to complete...
In one of the more contentious side topics of Vice President Sara Duterte’s impeachment hearings, the House Committee on Justice voted on Wednesday, April 29 not to open the sealed box of tax records submitted by the Bureau of Internal Revenue (BIR) containing the income tax returns of Vice...
President Marcos has extended the deadline of filing of 2025 income tax returns (ITR) from April 15 to May 15. It aims to give taxpayer more time to file their ITR properly without incurring penalties. "Pinalawig natin ang deadline ng filing ng 2025 Annual Income Tax Returns mula April 15 hanggang...
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 20-2026, providing guidelines for the filing of annual income tax returns (AITRs) and payment of taxes for calendar year 2025. BIR Commissioner Charito Martin R. Mendoza said the circular supports the Ease of...
