The Joint Foreign Chambers of the Philippines (JFC) urged President Marcos to prioritize the implementation of existing tax measures and ensure any new fiscal policies do not undermine competitiveness following President Ferdinand Marcos Jr.’s fifth State of the Nation Address.
During his State of the Nation Address on Monday, President Ferdinand Marcos Jr. urged Congress to pass a tax relief package that would exempt workers earning up to P350,000 a year from income tax.
In a boost to efforts to enhance tax collection efficiency, Philippine Finance Secretary Ralph G. Recto has successfully secured support from the Asian Development Bank (ADB) for digitalization initiatives.
Finance Secretary Ralph G. Recto has successfully garnered support from the World Bank during the WB-IMF Spring Meetings for the digitalization of tax administration in the Philippines, the Finance department said on Wednesday.