BusinessWorld E-paper
July 30, 2026
TWO TAX RELIEF MEASURES proposed by President Ferdinand R. Marcos, Jr. would benefit at least 3.13 million workers and 78,000 small businesses but cost the government about P66 billion in annual foregone revenue, the Department of Finance (DoF) said.
Finance Secretary Frederick D. Go on Wednesday said raising the annual income tax exemption threshold to P350,000 from P250,000 would reduce revenues by about P60 billion a year, while exempting small businesses from the minimum corporate income tax (MCIT) would cost another P6 billion.
