Marcos pushes tax exemptions to stimulate flagging Philippine growth

PoliticsPresident urges threshold at which people pay income tax be raised by 40%Philippine President Ferdinand Marcos Jr. delivers his fifth state of the nation address, at the House of Representatives in Quezon City, Metro Manila, on Monday. © ReutersRAMON ROYANDOYANJuly 27, 2026 21:29 JSTMANILA -- Philippine President Ferdinand Marcos Jr. has proposed raising the income tax threshold and eliminating some financial burdens on small businesses to stimulate growth in an economy that has been among the worst hit by the ongoing global energy crisis.