Marcos Eyes Philippine Tax Relief, Sees Public Works’ Savings

Philippine President Ferdinand Marcos Jr. says the tax bureau will look into the “possible exemption of certain taxpayer segments from the obligation of withholding and remitting creditable withholding taxes.”

• “This we hope to provide relief to majority of our taxpayers burdened by complex tax compliance requirements without revenues to be forgone,” he says before leaving for Malaysia to attend the Asean Summit
• NOTE: Finance department announces proposed enhancements to tax-free benefits in line with Marcos’ directive
• Government expects 30b-45b pesos in savings as public works chief moves to bring down cost of overpriced construction materials: Marcos
• Tax agency will “recalibrate ...