President Ferdinand R. Marcos Jr. on Saturday said his administration is determined to make the Philippines “future-ready” through fair taxation, worker benefits, and concrete steps to ease the cost of living.
Before leaving for the 47th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits in Kuala Lumpur, Malaysia, Marcos emphasized that his government’s approach focuses on balancing economic expansion with people-centered policies that strengthen domestic welfare and regional competitiveness.
“Through these efforts, we aim to build a future-ready Philippines and an ASEAN that is not only competitive but people-centered and sustainable,” he said during his departure speech at Villamor Air Base in Pasay City.
Marcos said the government is shifting its auditing priorities — from routine checks on compliant small and large businesses — toward investigating “questionable projects” that warrant closer scrutiny.
“We will uphold fairness in our tax system. We assure our micro, small, and medium enterprises, as well as large corporations that have been faithfully paying their taxes, that you will be treated justly,” he said.
The President added that the Department of Finance has instructed the Bureau of Internal Revenue (BIR) to study possible exemptions for certain taxpayers from the obligation to withhold and remit creditable withholding taxes. The agency is also exploring ways to simplify and reduce applicable tax rates, easing compliance for millions of Filipino taxpayers without compromising government revenues.
Marcos also revealed that proposals are underway to increase tax-exempt de minimis benefits for employees. Among these is the planned hike in the uniform and clothing allowance from P7,000 to P8,000 annually — a move designed to reflect today’s higher cost of living.
“These changes are not just about numbers — they are about fairness and dignity in the workplace. Every Filipino worker deserves to benefit from the nation’s growth,” he said.
Addressing cost of living and food prices
Amid persistent inflation concerns, the President assured the public that the government is strictly enforcing the suggested retail prices (SRP) for imported rice to prevent overpricing.
He reiterated the government’s commitment to provide affordable rice through the ongoing P20-per-kilo rice initiative, while directing the Department of Trade and Industry (DTI) to coordinate with manufacturers to temper prices ahead of the holiday season.
“The DTI continues to monitor and work with the manufacturers to stabilize prices, especially during this period of increased demand,” Marcos added.
With these reforms, Marcos said the government’s ultimate goal is to create a resilient, inclusive, and competitive Philippine economy — one that uplifts workers, supports honest taxpayers, and secures the nation’s future in a rapidly changing world.