SONA 2026: More tax relief initiatives proposed by Marcos

MANILA, Philippines — During his fifth State of the Nation Address (SONA) on Monday, July 27, President Ferdinand R. Marcos Jr. announced and proposed multiple tax relief measures.

“To ensure the continued progress of the middle class amidst the lingering effects of the crisis, we will pursue tax relief measures that promote growth, generate revenue, and advance equity toward socio-economic sustainability.”

“Kaya bilang natatanging proteksyon sa kanila at para mas mapakinabangan nila ang pinaghirapan nilang kita, nananawagan ako sa Kongreso upang maipasa ang batas na magbibigay ng bahagyang ginhawa sa ating bayaring buwis,” he said.

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(As a form of protection and for them to benefit more from their hard-earned earnings, I call on Congress to pass laws that will ease tax burdens.)

“Una, palawakin natin ang exemption sa income tax. Dagdagan natin ang mga manggagawag malilibre sa buwis sa kanilang kita. Isasama na natin ang mga kumikita ng di lalagpas sa P350,000 kada taon,” Marcos added.

(Let us expand the income tax exemption. Let us exempt more workers from the monthly income tax. We have to include those with an annual income of P350,000 or less.)

Marcos added that small businesses will no longer be imposed a minimum corporate income tax.

An amnesty will also be given to unpaid income, estate, donor, and value-added taxes, including the fines that come with them. /gsg

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