5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

Marcos supports abolition of travel tax to boost tourism

by
February 10, 2026
in Stock
0
Marcos supports abolition of travel tax to boost tourism
REUTERS

PHILIPPINE President Ferdinand R. Marcos, Jr. wants Congress to abolish the country’s travel tax system before its June adjournment, Malacañang said on Tuesday, as the administration moves to cut travel costs and support tourism while pushing a broader slate of governance reforms.

The repeal was among 21 priority bills approved during a meeting of the Legislative-Executive Development Advisory Council (LEDAC) at the Palace, according to Press Officer Clarissa A. Castro. The measures are part of the President’s legislative agenda aimed at easing household burdens and restoring confidence in public institutions.

“The President saw that this would make travel more affordable for tourists and for Filipinos who need to travel,” Ms. Castro said, adding that the measure is expected to have positive spillover effects on the economy.

The proposal has raised concerns from groups that benefit from the levy, which funds tourism infrastructure, education and cultural programs. Ms. Castro said the government is aware of these allocations and plans to address the funding gap.

Under existing rules, half of travel tax collections go to the Tourism Infrastructure and Enterprise Zone Authority (TIEZA), 40% support education assistance and scholarships through the Commission on Higher Education, and 10% fund cultural programs of the National Commission for Culture and the Arts.

Ms. Castro said these programs would instead be financed through the national budget if the tax is repealed.

The Palace has also asked TIEZA to submit a full accounting of how travel tax revenues are used as part of efforts to improve transparency and accountability.

Congress has begun moving on the proposal. In the House of Representatives, Majority Leader Ferdinand Alexander “Sandro” A. Marcos III filed House Bill No. 7443 or the Travel Tax Abolition Act of 2026, which seeks to scrap the levy entirely. In the Senate, Senator Rafael “Raffy” T. Tulfo filed a bill that would exempt economy-class passengers while retaining the tax on business and first-class travelers.

House Speaker Faustino “Bojie” G. Dy III has said the chamber would hold nationwide consultations to speed up deliberations on the administration’s priority measures before lawmakers adjourn in June.

The Department of Economy, Planning and Development (DEPDev) said placing the travel tax repeal on the LEDAC agenda reflects a wider push to rebuild public trust, following public backlash over governance and spending issues.

Beyond tourism, the priority list includes proposals such as the Anti-Political Dynasty Law, Expanded Anti-Online Sexual Abuse or Exploitation of Children Act, and CADENA Act, which seeks to strengthen disclosure and oversight of public spending.

In a statement, DEPDev Secretary Arsenio M. Balisacan said the measures are designed to improve public service delivery and ensure stronger scrutiny of government expenditures.

He said the administration sees 2026 as a critical point to regain momentum by focusing on governance reforms that produce visible results for Filipinos. — Erika Mae P. Sinaking

Previous Post

Jose de Venecia, five‑time Speaker, dies at 89

Next Post

BIR banks on growth to revive tax take this year

Next Post
BIR banks on growth to revive tax take this year

BIR banks on growth to revive tax take this year

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    PSEi back above 6,400 on strong buying interest

    PSEi back above 6,400 on strong buying interest

    February 10, 2026
    Weak confidence seen delaying PHL recovery

    Weak confidence seen delaying PHL recovery

    February 10, 2026
    Resolution of tariff issues needed before US FTA talks -— Ambassador Romualdez

    Resolution of tariff issues needed before US FTA talks -— Ambassador Romualdez

    February 10, 2026
    NRA proposal not considered immediate fix — BIR

    NRA proposal not considered immediate fix — BIR

    February 10, 2026

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2026 JNews - Premium WordPress news & magazine theme by Jegtheme.