Labor groups in the Philippines are calling for an increase in the annual income tax exemption threshold, arguing that the current level is insufficient given the rising cost of living. The Federation of Free Workers (FFW) has urged the government to raise the exemption ceiling from the proposed P350,000 to as high as P600,000. This comes as part of broader discussions on tax reform and economic relief for workers.
The FFW claims that the current exemption level does not adequately protect low- and middle-income earners from the financial strain caused by inflation and rising prices. Members of the labor federation argue that a higher threshold would help reduce the tax burden on working families. The proposed increase is seen as a way to align tax policies with the realities of everyday life in the country.
While the government has expressed support for raising the exemption, the exact amount remains under debate. The FFW’s push highlights growing concerns about economic inequality and the need for more inclusive fiscal policies. The discussion is expected to continue as lawmakers weigh the potential impact of such changes on both the economy and individual taxpayers. (newsinfo.inquirer.net)
