For more than three decades, P&A Grant Thornton has continued to empower businesses with expert insights, superior service, and a trusted partnership built to last.
During his fifth State of the Nation Address (SONA) on 27 July 2026, President Ferdinand Marcos Jr. proposed increasing the annual personal income tax exemption threshold from ₱250,000 to ₱350,000.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 84-2026 to clarify provisions of Revenue Regulations (RR) No. 04-2026, which sets out the guidelines and procedures for the availment of the one-time abatement of taxes and/or penalties for micro taxpayers.
The Philippines has long relied on economic zones as engines of investment, employment, exports, and regional development.
Taxation is one of the inherent powers of the State. The famous dictum of the US Supreme Court Chief Justice John Marshall in McCulloch v. Maryland that “the power to tax involves the power to destroy” has long illustrated the breadth of the taxing power of the State. Taxes are the lifeblood of the government and, therefore, should be collected without unnecessary hindrance. However, if exercised arbitrarily, the power to tax can become oppressive.
We have earned certifications as the No. 1 Employer for Fresh Graduates under Accounting and Advisory, a Great Place To Work, and one of the nation's Best Employers for 2025. Join our team and discover a workplace where your growth and success are our top priorities!
