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)...
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...
Malacañang said President Marcos carefully studied the administration 's proposed tax reform package and amendments to the Electric Power Industry Reform Act (EPIRA) before announcing them in his fifth State of the Nation Address (SONA), while signaling that the measures could be certified as...
Executive Secretary Ralph Recto perhaps best summed up President Marcos ' fifth State of the Nation Address (SONA): "Tamang timpla. Malaman at hindi bola-bola (Just the right mix. Substantive, not fluff).” In a statement on Monday evening, July 27, Recto said the President delivered "a fair...
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...
The Bureau of Internal Revenue (BIR) has released guidelines clarifying the tax abatement initiative for micro-enterprises to clear up confusion surrounding eligibility criteria and unresolved penalties. Under Revenue Memorandum Circular No. 84-2026, the tax authority outlined the operational...
In a recent column in The Economist, economist and former presidential adviser Arthur Laffer revisited two of the most consequential tax reform programs of the late twentieth century: the tax cuts implemented by Ronald Reagan in the United States (US) and Margaret Thatcher in Britain. When Reagan...
To support and ease the financial burdens on small businesses, the local government of Marikina has approved 100 percent tax relief for qualified sari-sari stores and carinderias for the tax year 2026, while also granting full amnesty on interest and surcharges for delinquent real property...
President Marcos unveiled a series of domestic reforms aimed at curbing corruption, improving fiscal fairness, and easing the cost of living — measures he said are necessary to strengthen the Philippines’ credibility as it prepares to assume the Association of Southeast Asian Nations (ASEAN)...
Makati City Mayor Nancy Binay on Tuesday, Aug. 19, signed an ordinance that will provide immediate tax relief to residents and businesses affected by severe flooding from July 21 to 25. City Ordinance No. 2025-A-001, enacted by the Sangguniang Panlungsod on Monday, Aug. 11, waives penalties,...
Proposals to ease the impact of rising living costs on Filipino workers include possible tax breaks and expanded employment opportunities, the Department of Labor and Employment (DOLE) said. DOLE Secretary Bienvenido Laguesma said that while wage adjustments are being reviewed by regional wage...
Underscoring the need for government to help small businesses, former senator Bam Aquino said on Saturday, March 15, that a tax relief must be given to micro, small, and medium enterprises (MSMEs). Independent senatorial candidate Bam Aquino speaks to some micro-entrepreneurs and workers...
