Philippines Proposes Raising Tax-Free Annual Income Threshold to P350K
House Speaker Faustino 'Bojie' Dy III and Majority Leader Sandro Marcos have filed a bill to increase the tax-free annual income threshold to P350,000, a move responding to the President's call for tax reform. The proposal aims to increase disposable income for workers. Concurrently, another bill seeks to abolish the Minimum Corporate Income Tax (MCIT) by 2027.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- Bill Filed to Raise Tax-Free Income Threshold to P600,000 in Philippines
Senator JV Ejercito has filed a bill to exempt workers earning up to P600,000 annually (approximately P50,000 monthly) from income tax. The proposal aims to boost disposable income and stimulate the economy, though potential fiscal impacts are noted.
- Bill filed seeking tax exemption for monthly income up to P50,000
A bill seeking to exempt workers earning up to P50,000 per month from income tax has been filed in the Philippine Senate. The proposal aims to support middle-income households struggling with inflation and rising prices, thereby increasing their take-home pay.