Mark Villar files bill exempting MSMEs from 2% tax on gross income

MANILA, Philippines — Sen. Mark Villar on Monday, Aug. 3, initiated a bill seeking to exempt micro, small, and medium enterprises (MSMEs) from the Minimum Corporate Income Tax (MCIT). Senate Bill No. 2362, once passed and signed into law, will provide much-needed tax relief to businesses that serve as significant drivers of the country’s economy,