INCOME TAX RELIEF EYED AS BILL PROPOSES P350,000 EXEMPTION

Sen. Francis Pangilinan has filed a bill seeking to raise the annual income tax exemption threshold from P250,000 to P350,000 to increase workers’ take-home pay.

The measure, filed after President Ferdinand R. Marcos Jr.’s call for higher tax exemptions in his fifth State of the Nation Address, also proposes adjusting the income thresholds for higher tax brackets.

Pangilinan said the bill aims to help Filipinos cope with rising living costs and inflation by reducing their tax burden.

The proposed tax exemption would also cover self-employed individuals and professionals under the 8-percent tax regime.

He said the changes are intended to make the country’s tax system more responsive to current economic conditions.

Source: PhilNews24 | August 2, 2026