Biz groups back SONA tax relief, urge broader economic reforms

CEBU CITY, Philippines — Business groups in Cebu welcomed President Ferdinand ‘Bongbong’ Marcos Jr.’s tax relief measures and anti-corruption pledges in his fifth State of the Nation Address (SONA).

But they urged the administration to turn its promises into concrete results as households continue to grapple with high costs of living.

The Cebu Chamber of Commerce and Industry (CCCI) welcomed the President’s latest SONA, particularly on governance, economic competitiveness, energy security, as well as economic relief amid headwinds brought by the war in the Middle East.

For its part, Mandaue Chamber of Commerce and Industry (MCCI) described the address as one of the most consequential SONAs delivered so far.

The group commended the President’s pronouncements on tax abatement for micro-entrepreneurs, income tax exemptions for the middle class, and the removal of corporate taxes on small businesses and systems loss charges passed on to consumers.

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“We hope that Congress will take these directives seriously and pass the institutional reforms before the end of his term,” said Barbara Gothong-Tan, president of MCCI.

The Talisay Chamber of Commerce and Industry (TCCI) also shared the same sentiment.

However, business leaders here hoped that the commitments made during the SONA would be translated into concrete policy and decisive implementation as soon as possible.

“Plans are important, but what the economy needs now is execution,” Carl Cabusas, president of the Talisay Chamber of Commerce and Industry, said.

Promises

To recall, Marcos Jr. said the government is seeking sweeping tax relief measures aimed at protecting middle-class workers and small entrepreneurs affected by the lingering economic impact of the Middle East crisis.

All three chambers lauded the President for such decisions.

“These measures can help improve cash flow, encourage formalization, and allow enterprises to focus resources on expansion and job creation,” CCCI wrote in a statement.

Additionally, CCCI cited energy initiatives, infrastructure, resilience, and sustainability, the continued push for trade expansion, and technology, artificial intelligence, and industry development in Cebu and the Visayas.

In particular, the 10,000 megawatts (MW) being tracked from 200 power projects through 2028, more than 1,700 MW in planned energy storage, and the proposed “Sariling Kuryente” Act encouraging household solar and battery adoption.

“For Cebu and the Visayas, these national priorities align closely with the region’s development goals, particularly in strengthening the Metro Cebu Economic Hub, advancing the West Cebu Economic Corridor, protecting the Central Cebu Conservation Corridor, expanding the North and South Cebu Tourism Corridor, and developing the North and South Cebu Agri-Industrial Corridor,” CCCI added.

Concrete steps

But the MCCI and TCCI said the SONA’s commitments now need to translate into concrete policy and decisive implementation.

Gothong-Tan, in particular, noted the absence of any mention of plans to boost tourism, one of Cebu’s key economic drivers. That’s why, she said the administration’s remaining two years should be used to restore public confidence through decisive leadership and accountability.

“Be that as it may, these last two years should be an opportunity to restore public confidence by demonstrating decisive leadership, accountability, and a clear roadmap for the country’s future beyond the current administration,” added Gothong-Tan.

Cabusas also shared the same sentiment.

“Plans are important, but what the economy needs now is execution. We hope to see sustained focus on economic priorities, with policies that move the country forward and deliver measurable results beyond statements and promises,” he added.

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