Marcos extends tax relief to Filipinos hit by Middle East crisis
Philippine President Ferdinand Marcos Jr. File Photo | Photo/Aaron FavilaMANILA, Philippines — The government is seeking sweeping tax relief measures aimed at protecting middle-class workers and small. . .
Philippine President Ferdinand Marcos Jr. File Photo | Photo/Aaron FavilaMANILA, Philippines — The government is seeking sweeping tax relief measures aimed at protecting middle-class workers and small entrepreneurs affected by the lingering economic impact of the Middle East crisis. In his fifth State of the Nation Address (Sona) 2026, President Ferdinand Marcos Jr. said the government must not take the middle class and small business sector for granted as global uncertainties continue to pressure them. READ:WATCH: Marcos delivers fifth State of the Nation AddressArticle continues after this advertisement“To ensure the continued progress of the middle class amidst the lingering effects of the Middle East crisis, we will pursue tax relief measures to promote growth, generate revenue, and advance equity toward socio-economic sustainability,” the Chief Executive said. FEATURED STORIESBUSINESSBUSINESSBUSINESSINQUIRER/ MARIANNE BERMUDEZAs part of the proposed measures, Marcos called on Congress to pass legislation that would provide relief to taxpayers and allow workers and entrepreneurs to retain more of their hard-earned income. The proposed tax reforms include:Expanded income tax exemptions. The government is seeking to increase the number of workers exempted from income tax by including individuals earning not more than ₱350,000 annually. Lower income tax rates for other workers. The proposal also includes reducing the income tax burden on other wage earners. Relief for small businesses. The proposed reforms would exempt small enterprises from the minimum corporate income tax. Tax amnesty program. To ease taxpayers’ concerns, the government is also seeking a tax amnesty covering unpaid obligations, including income tax, estate tax, donor’s tax, and value-added tax (VAT), along with associated penalties and surcharges. READ:BIR, BOC still upbeat on reaching 2026 goalsMarcos said, “These measures will support economic resilience, encourage business growth, and promote a more sustainable and equitable tax system,” INQYour subscription could not be saved. Please try again. Your subscription has been successful. Visit ourSona 2026live coverage to stay updated with the latest #SONA2026 news and stories.