Benise Balaoing

Taxpayers line up to file their Annual Income Tax Returns (AITR) at Bureau of Internal Revenue office in Intramuros, Manila on April 17, 2023.  Jonathan Cellona, ABS-CBN News Taxpayers line up to file their Annual Income Tax Return (AITR) at Bureau of Internal Revenue office in Intramuros, Manila on April 17, 2023.  Jonathan Cellona, ABS-CBN News

Article (news)

INCOME TAX FILING

ABS-CBN News

<p>MANILA — Senator Francis Pangilinan has filed a bill raising the base exemption for personal income tax from the current P250,000 to P350,000.</p><p>In a statement, the lawmaker said this will also adjust the income thresholds for the 15 percent, 20 percent, 25 percent, and 30 percent tax brackets to P500,000, P1 million, P2.5 million, and P8 million, respectively.</p><p>This comes after President Ferdinand Marcos Jr. called for higher tax exemptions for individuals during his fifth State of the Nation Address.</p><div><a href="https://www.abs-cbn.com/news/business/2026/7/27/marcos-seeks-tax-relief-for-individuals-small-businesses-1654" rel="noopener noreferrer" target="_blank">Marcos seeks tax relief for individuals, small businesses</a></div><p>House lawmakers have also filed a <a href="https://www.abs-cbn.com/news/nation/2026/7/29/house-bill-seeking-to-increase-tax-exempt-annual-income-ceiling-to-p350-000-filed-1248" rel="noopener noreferrer" target="_blank">bill</a> seeking to increase the tax-exempt annual personal income ceiling to P350,000.</p><p>“Nakasakay sa pagganda o pagpangit ng ekonomiya ang pagbabago ng laki o liit ng kita ng mga negosyo. Pero yung mga buwis sa manggagawa, nakapako. May krisis o wala, matik ang kaltas,&quot; Pangilinan noted. &quot;Kailangan ng konting tulong ng ating mga taxpayer lalo na’t mahirap ang buhay,” he said.</p><p>Meanwhile, House Ways and Means Committee Chair Miro Quimbo said the House&#x27;s tax relief plan includes a proposal to make the 13th-month pay tax-free.</p><p>“Dalawang kahon ang ating pinanggagalingan na sahod na tina-tax. ‘Yung unang kahon ay general gross salary, at ‘yung pangalawang kahon na may tax exemption ay total amount of 13th-14th month additional salary na wala sa gross salary mo, itataas din ‘yun from P90,000 to P120,000,” he explained.</p><p>Quimbo said the House Committee on Ways and Means is expected to start public hearings on the proposed tax relief package next week.</p><div><a href="https://www.abs-cbn.com/news/business/2026/7/28/dole-backs-marcos-call-to-raise-income-tax-exemption-to-p350-000-1524" rel="noopener noreferrer" target="_blank">DOLE backs Marcos call to raise income tax exemption to P350,000</a></div>

<p>Senator Francis Pangilinan has filed a bill raising the base exemption for personal income tax from the current P250,000 to P350,000.</p>

Senator Francis Pangilinan has filed a bill raising the base exemption for personal income tax from the current P250,000 to P350,000.

Senator files bill raising tax-exempt income ceiling to P350,000

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Senator files bill raising tax-exempt income ceiling to P350,000

Benise Balaoing,

ABS-CBN News

Published July 31, 2026 06:03 PM PHT

Read More:

Kiko Pangilinan

Miro Quimbo

income tax

tax exemption

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