More solons seek higher income tax exemption but differ in value

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MANILA, Philippines — More lawmakers have filed their own versions of the bill seeking to raise the income tax exemption ceiling following President Ferdinand Marcos Jr.’s fifth State of the Nation Address (Sona), but different threshold values have been pushed forward.

In a statement on Monday, Navotas Rep. Toby Tiangco said he filed House Bill (HB) No. 10451, which seeks to increase the income tax ceiling from the current P250,000 annual income to P350,000 — similar to what Marcos proposed in his Sona.

If enacted, HB No. 10451 will amend Section 24 of the National Internal Revenue Code (NIRC), or the provisions regarding income taxes.

READ: Dy, Marcos file bill increasing income tax exemption ceiling to P350,000

More solons seek higher income tax exemption but differ in value

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