By Ruth Abbey Gita-Carlos | Philippine News Agency
The Philippines will be “future-ready” through fair taxation, relief for workers and measures to ease the cost of living, President Ferdinand R. Marcos Jr. said on Saturday.
Before departing for his participation in the 47th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits in Kuala Lumpur, Malaysia, Marcos Jr. said the government seeks to balance economic growth with people-centered policies aimed at strengthening both domestic welfare and regional competitiveness.
“Through these efforts, we aim to build a future-ready Philippines and an ASEAN that is not only competitive but people-centered and sustainable,” Marcos said in his departure speech delivered at Villamor Air Base in Pasay City.
He said the government is shifting its focus from routine auditing of compliant small and large businesses to scrutinizing “questionable projects” that may require closer examination.
“We will uphold fairness in our tax system. We assure our micro, small and medium enterprises, and large corporations which have been lawfully paying their taxes, that you will be treated justly,” he said.
Pres. Marcos Jr. said the Department of Finance also instructed the Bureau of Internal Revenue to explore the possible exemption of certain taxpayer segments from the obligation to withhold and remit creditable withholding taxes, as well as the simplification and reduction of applicable creditable withholding tax rates.
He said the measures aim to provide relief to majority of taxpayers burdened by complex tax compliance requirements, without forfeiting government revenues.
He also mentioned the proposals to raise the ceilings for the tax-exempt de minimis benefits for employees, including increasing the uniform and clothing allowance from P7,000 to P8,000 annually, reflecting rising costs of living.
“These changes are not just about numbers—they are about fairness and dignity in the workplace. Every Filipino worker deserves to benefit from the nation’s growth,” Marcos Jr. said.
Amid concerns over rising prices of basic commodities, Marcos Jr. said the government is strictly enforcing and monitoring the implementation of the maximum suggested retail price for imported rice.
Marcos Jr. also assured the public of his administration’s continued efforts to make affordable rice through the government’s P20/kg rice program.
“The Department of Trade and Industry continues to monitor and work with the manufacturers to temper prices, especially in time [for] the holiday season,” he said.
