In a country where 2.96 million Filipinos are unemployed, the poor turn to various forms of self- employment to be able to make ends meet. The farmers and fishermen in the rural areas, and the tricycle drivers and small sari-sari storeowners in the cities, think of innovative ways just to earn a decent income for their families. More than anything else, these micro-entrepreneurs, or Marginal Income Earners (MIEs), need the right opportunity to grow their small businesses into a more sustainable source of living. Charging taxes does not help them in any way; rather, it becomes a burden to a sector that is situated below the poverty line.
This bill seeks to amend the National Internal Revenue Code of 1997 so as to exempt the MIEs from taxes. Their income from their small engagements are just enough to sustain the needs of their families. Such a measure provides a more enabling environment for MIEs to thrive and be given a chance to succeed. It further continues our campaign in achieving growth that includes everyone, even and especially the poor and marginalized.
In view of the foregoing, the approval ofthis bill is earnestly sought.
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