Negros oriental: The Negros Oriental Chamber of Commerce and Industry (NOCCI) welcomed the tax incentives and power sector reforms announced by President Ferdinand Marcos Jr. during his State of the Nation Address (SONA) on Monday, saying these would provide significant relief to businesses, particularly micro, small and medium enterprises (MSMEs).

According to Philippines News Agency, NOCCI president Edward Du, in a Tuesday interview, said the business community is encouraged by the President's proposal for a one-time tax abatement for small enterprises, tax exemption for businesses earning not more than PHP350,000 annually, estate tax amnesty, and the removal of the minimum corporate income tax.

Du highlighted that NOCCI, through the Philippine Chamber of Commerce and Industry, has long advocated for tax exemptions and relief measures for MSMEs to help them expand and remain competitive. He emphasized the importance of the proposed tax amnesty, which would allow many small businesses to settle tax deficiencies without the burden of penalties for non-compliance with government requirements, particularly those of the Bureau of Internal Revenue.

"They can start clean with the tax amnesty removing their penalties so they can invest more in their business," Du said.

He also noted that the proposed estate tax amnesty would benefit many property owners who were unable to avail themselves of the previous amnesty program. Additionally, Du expressed support for the President's plan to remove systems loss charges from electricity bills, a measure that would benefit both households and businesses, especially those with high power consumption.

President Marcos, in his SONA on Monday, proposed amending the Electric Power Industry Reform Act (EPIRA) of 2001 to prohibit power companies from passing systems loss charges and the corresponding value-added tax to consumers. Du described the removal of these charges from consumers' power bills as a "game-changer."