President Ferdinand Marcos Jr. wants Congress to pass the proposed tax reform measure that would provide relied to middle-income earners before the end of the year, Malacañang said Tuesday.
Palace Press Officer Claire Castro said the Department of Finance is stil reviewing the proposal to ensure its immediate passage.
“Ang gusto po ng Pangulo, sana ngayong taon (The President wants it this year),” Castro said.
“Sa ngayon po ay inaaral pa, working on it ang DOF. At alam naman po ng Pangulo na kasalukuyan itong binubusisi ng DOF, kasi nais po ng Pangulo na ito ay maipasa sa pinakamabilis na panahon (Right now, it is still being studied, with the DOF working on it. The President is aware that the DOF is currently scrutinizing the matter, as he wants it passed as quickly as possible),” she added.
In his recent State of the Nation Address, Marcos urged Congress to approve a measure increasing the minimum annual taxable income from P250,000 to P350,000.
The proposed measure would also provide tax relief to micro, small and medium enterprises and grant a general tax amnesty intended to support the middle-income sector.
DOF estimates the tax package could generate P518.71 billion in revenues from 2027 to 2030, offsetting an estimated P326.92 billion in revenue losses from personal and corporate income tax reductions.
Castro said the proposed reforms would not burden ordinary Filipinos, noting that some proposed adjustments would primarily affect luxury goods, including high-end vehicles.
“Iyong iba po kasing tax na nababanggit ay hindi po ang mga pangkaraniwang mamamayan ang maapektuhan. Mas maapektuhan nito iyong bumibili ng mga mamahaling sasakyan (The other taxes being mentioned will not affect ordinary citizens; instead, they will primarily impact those who purchase luxury vehicles),” she said.
“So ito ay inaaral, so hindi naman po iyong mga middle income ang usually maaapektuhan nung mga binabalak po na tax reform (This is currently being studied, so the middle income sector would not be typically affected by the proposed tax reforms),” she added.
Castro also defended proposals to raise taxes on sweetened beverages, single-use plastics and vape products, saying the measures could encourage healthier consumption and advance public health.
“Ito naman may patungkol sa kalusugan. Mas maganda maiwasan kung tayo magkukonsume ng napakatamis ng mga kakanin o pagkain o inumin (These measures are related to public health. It would be better if we avoid consuming excessively sweet food and drinks),” she said.