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MANILA, Philippines — Senate President Pro Tempore Vicente Sotto III on Tuesday filed a bill seeking to raise the threshold for annual income tax exemption to P350,000, in accordance with the recommendations made by President Marcos in his State of the Nation Address (Sona) on Monday.
Under Senate Bill (SB) No. 2338 or the proposed Expanded Income Tax Exemption of 2026, workers earning only up to P350,000 annually (or about P30,000 a month) would be fully exempt from paying income tax beginning Jan. 1, 2027.
In his 5th Sona, Marcos urged Congress to “cover more workers in tax exemptions. Let us include those earning up to P350,000 a year.”
READ: Marcos presses Congress to raise minimum taxable income to P350,000
