Weeks after Marcos SONA, House panel OKs higher income tax exemption ceiling

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A bill exempting individuals earning up to P350,000 annually from paying income tax hurdles a House committee

MANILA, Philippines – The House ways and means committee approved on Monday, August 10, a bill seeking to expand tax relief for workers and small businesses, two weeks after President Ferdinand Marcos Jr. signaled it as a priority during his State of the Nation Address (SONA).

The panel passed House Bill No. 10345, filed by Speaker Bojie Dy and Majority Leader Sandro Marcos, which aims to amend the National Internal Revenue Code of 1997 and allow individuals earning up to P350,000 annually to be exempt from income tax.

Weeks after Marcos SONA, House panel OKs higher income tax exemption ceiling

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