Tax Exemption
INCREASING THE INCOME TAX EXEMPTION CEILING FOR INDIVIDUAL TAXPAYERS
This bill proposes to increase the income tax exemption ceiling for individual taxpayers from ₱250,000 to ₱360,000 annually, aiming to provide financial relief amid rising inflation and stagnant wages.
TAX FREE IMPORTATION OF MEDICAL SUPPLIES AND EQUIPMENT ACT
This bill aims to exempt the importation of medical supplies and equipment from customs duties and value-added tax to improve access to healthcare in the Philippines.
KIDDIE SAVERS FINANCIAL LITERACY ACT
The Kiddie Savers Financial Literacy Act aims to grant tax exemptions on interest income from minors' deposit accounts to promote financial literacy and saving among children.
LOCAL MUSIC INDUSTRY INCENTIVES ACT
The Local Music Industry Incentives Act aims to provide tax exemptions and subsidies for the local music industry, amending certain sections of the Local Government Code to support Filipino musicians and promote original music.
TAX-FREE IMPORTATION OF MEDICAL DEVICES AND EQUIPMENT ACT
This bill aims to exempt the importation of medical devices and equipment from customs duties and value-added tax for five years, promoting affordable healthcare access in the Philippines.
INCREASING THE INCOME TAX EXEMPTION CEILING FOR INDIVIDUAL TAXPAYERS
This bill proposes to increase the income tax exemption ceiling for individual taxpayers from ₱250,000 to ₱480,000 annually, aiming to provide tax relief and adjust for inflation.
NATIONAL ATHLETES AND COACHES BENEFITS AND INCENTIVES ACT
This bill aims to exempt national athletes and coaches from taxes on all incentives, rewards, bonuses, donations, gifts, endowments, and contributions received for winning in international sports competitions. It amends the existing National Athletes and Coaches Benefits and Incentives Act to enhance support for athletes and encourage private sector contributions.