The Philippine House Committee on Ways and Means approves measures that would raise the annual taxable income exemption ceiling to ₱350,000 from ₱250,000 and provide relief to microenterprises by exempting them from the 2% Minimum Corporate Income Tax (MCIT). The approvals are made during a committee hearing and are described as part of a broader tax reform package aimed at individual workers and small businesses.
The sources identify two separate House bills: HB No. 10345, filed by House Speaker Faustino “Bojie” Dy III, and HB No. 10346, filed by Majority Leader Ferdinand Alexander “Sandro” Marcos. Both bills are approved by the committee chair, Marikina 2nd District Rep. Miro Quimbo, with the approval taking place “subject to style” changes. One outlet notes that Cagayan de Oro Rep. Rufus Rodriguez moved for approval during the hearing.
While all accounts focus on the committee-level approval and the proposed changes to individual and microenterprise taxation, the outlets differ slightly in emphasis—one highlights the bill’s progress and a specific bill hurdle, while others foreground the combined package of worker and small-business measures.
