Mamamayang Liberal Party-list Rep. Leila de Lima has joined calls for the imposition of an ultra-wealth tax on the country’s billionaires, saying the measure could provide additional funding for vital government programs and social services.
De Lima recently filed House Bill No. 9274, or the proposed Ultra-Wealth Tax Act, which seeks to amend certain provisions of the National Internal Revenue Code of 1997 (Republic Act No. 8424).
According to the lawmaker, government action is needed to address the widening gap between the rich and the poor, which has been aggravated by economic disruptions and structural issues, including what she described as a regressive tax system.
“Nakita natin nitong nakaraang mga buwan kung paanong sa panahon ng krisis, sa harap ng nagtataasang presyo ng langis, pagkain, at iba pang mga bilihin, isa sa mga dahilan ng makupad na pagpapatupad ng mga kinakailangang reporma at serbisyo ay kakulangan ng mapagkukunan ng pondo para matulungan ang mga apektado, lalo na ang mas nangangailangan,” De Lima said.
Under the proposed measure, individuals with wealth exceeding ₱1 billion would be subject to a one-percent tax. Those with wealth above ₱2 billion would pay a two-percent tax, while those with wealth surpassing ₱3 billion would be taxed at three percent.
The revenues generated from the proposed tax would be earmarked for public health services, education, local government support funds, social protection and employment programs, and housing initiatives.
De Lima also highlighted the struggles faced by middle-income earners, who consistently pay taxes but often receive little government assistance during times of crisis.
“Ang mga middle class na tuloy-tuloy sa pagbabayad ng buwis, pero hindi kadalasang nakatatanggap ng ayuda sa panahon ng krisis o mga di-inaasahang pangyayari, ay mabilis na dumadausdos sa ilalim ng poverty line, at nahihirapan nang makabangon pa,” she said.
Calling for a fairer tax system, the former justice secretary stressed the need for wealthier individuals to contribute more toward addressing social inequality.
“To truly promote social justice and help those in need, we must give our fair share. Isulong ang makatarungan at inklusibong pagbubuwis at gamitin ang pondo ng bayan sa epektibong mga programa at serbisyo na may tunay na pakinabang sa ating mga kababayan,” De Lima added.
The proposed legislation incorporates provisions from similar measures previously filed by several lawmakers, including members of the Akbayan bloc, party-list representatives, and other legislators advocating progressive tax reforms.
De Lima also renewed her appeal for the passage of House Bill No. 9172, which seeks to raise the annual income tax exemption threshold for individual taxpayers from ₱250,000 to ₱480,000.
She said the proposal would help increase the take-home pay and disposable income of many Filipino workers.