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Marcos Pushes Tax Relief and Power Cost Cuts in Fifth SONA Address on July 27

2026-07-27 11:51:57

According to Rappler, President Ferdinand Marcos Jr. proposed tax relief and lower electricity charges in his fifth State of the Nation Address on July 27. He called for raising the annual personal income tax exemption threshold from P250,000 to P350,000 to benefit middle-income workers, eliminating the minimum corporate income tax for small businesses, and offering amnesty for unpaid income, estate, and VAT liabilities. Marcos also sought an immediate amendment to the Electric Power Industry Reform Act to prohibit power distributors from passing system loss charges and corresponding VAT to consumers. According to Meralco, system losses account for approximately 5% of a consumer's electricity bill.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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