SB 231
Senate·20th Congress·Filed Jul 7, 2025
Reducing the Cost of Business Compliance for Micro, Small and Medium Enterprises (Msmes)
An Act Promoting Business Growth and Recovery by Reducing the Cost of Business Compliance for Micro, Small and Medium Enterprises, Amending for the Purpose the National Internal Revenue Code of 1997, as Amended
In plain language
The proposal lowers the optional gross‑sales tax for qualifying small businesses from 8 % to 5 % and sets simple 1 % and 2 % withholding rates for purchases of goods and services, aiming to cut the tax burden on MSMEs.
TaxationBusiness, Trade and IndustryPublic Works and Infrastructure
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Author · Senator
Subjects
Micro, Small and Medium Enterprises (Msmes)
Official sources
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SBN-231 · Sources: BetterGov Open Congress, BatasWatch