- The budgetary process between the legislative and executive branches is underway.
- Executive office discusses budget rules with legislature.
President Calls for Tax Relief to Address Rising Costs in Philippines
What happened
President Marcos called for tax relief measures to assist low- and middle-income workers facing rising costs of living in the Philippines. These measures are part of the ProGRESS Bill, a tax package currently awaiting action in the House of Representatives. The proposal suggests raising the annual personal income tax exemption threshold from P250,000 to P350,000. Inflation in the Philippines reached 7.2 percent in September.
From philstar.com
Why it matters
The proposed tax relief aims to provide a financial cushion for taxpayers, potentially putting P7,500 back into the pockets of millions of households annually. This initiative is part of the ongoing budgetary process between the executive office and the legislature.
The budgetary process between the legislative and executive branches is currently underway, with the executive office discussing budget rules with the legislature.
From philstar.com
Who's involved
- house of representativesLegislative body where the tax package is currently pending
- PalaceInstitutional setting for executive discussions and legislative review
- PhilippinesThe country experiencing rising costs of living and high inflation