25/05/2026
What If Ganito Ang Batas
NINETEENTH CONGRESS OF THE REPUBLIC
OF THE PHILIPPINES
First Regular Session
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HOUSE OF REPRESENTATIVES
H. B. No. _____
Introduced by Representative Ano Na Pinas
Co-authors: _________________________
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AN ACT
IMPOSING A PROGRESSIVE BILLIONAIRE WEALTH SURTAX ON INDIVIDUALS AND CORPORATIONS WITH NET WORTH EXCEEDING ONE BILLION DOLLARS, WITH EXPONENTIAL TAX MULTIPLIERS PER BRACKET
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. Short Title. - This Act shall be known as the "Billionaire Accountability and Equity Tax Act of 2026".
SECTION 2. Declaration of Policy. - It is hereby declared the policy of the State to promote social justice and equitable distribution of wealth. The State recognizes that extreme wealth concentration undermines democracy and that those who have benefited most from the Philippine economy must contribute proportionally to national development.
SECTION 3. Definitions. - As used in this Act:
(a) "Billionaire" refers to any natural person, whether citizen or resident alien, whose global net worth equals or exceeds One Billion United States Dollars (USD 1,000,000,000.00);
(b) "Covered Corporation" refers to any corporation organized under Philippine laws, or foreign corporation doing business in the Philippines, where the ultimate beneficial owner is a Billionaire;
(c) "Net Worth" means the fair market value of all assets, worldwide, less liabilities. Assets include cash, securities, real property, businesses, art, vehicles, aircraft, watercraft, cryptocurrency, and beneficial interests in trusts;
(d) "Surtax" refers to the tax imposed under Section 4, separate and distinct from income tax, value-added tax, and other national taxes.
SECTION 4. Imposition of Billionaire Wealth Surtax. - There is hereby imposed an annual surtax on the total net worth of every Billionaire and Covered Corporation, as follows:
| Net Worth Bracket (USD) | Base Rate | Multiplier | Effective Surtax Rate |
| --- | --- | --- | --- |
| 1,000,000,000 to 1,999,999,999 | 2% | x1 | 2% |
| 2,000,000,000 to 2,999,999,999 | 2% | x2 | 4% |
| 3,000,000,000 to 3,999,999,999 | 2% | x3 | 6% |
| 4,000,000,000 to 4,999,999,999 | 2% | x4 | 8% |
| 5,000,000,000 to 9,999,999,999 | 2% | x5 | 10% |
| 10,000,000,000 and above | 2% | x10 | 20% |
The surtax shall be computed on the total net worth as of December 31 of each calendar year.
SECTION 5. Anti-Evasion and Anti-Avoidance Provisions.
(a) Exit Tax. - Any Billionaire who renounces Philippine citizenship or transfers tax residence shall pay an exit tax equivalent to forty percent (40%) of total net worth prior to exit.
(b) Look-Through Rule. - The Bureau of Internal Revenue (BIR) shall disregard corporate layers, trusts, and foundations to determine the ultimate beneficial owner.
(c) Mandatory Global Reporting. - All financial institutions in the Philippines must report accounts beneficially owned by Billionaires. Penalty for non-reporting: ₱1,000,000,000 per day.
(d) Asset Seizure. - Failure to pay the surtax within ninety (90) days from due date authorizes the BIR and Anti-Money Laundering Council to seize assets without court order.
SECTION 6. Distribution of Proceeds. - All revenues collected shall be automatically appropriated as follows:
(a) Forty percent (40%) - Universal Health Care under RA 11223;
(b) Thirty percent (30%) - Free Tuition and Living Subsidy in State Universities and Colleges under RA 10931;
(c) Twenty percent (20%) - Socialized Housing for informal settler families;
(d) Ten percent (10%) - Salary standardization for public school teachers, nurses, and uniformed personnel.
SECTION 7. Public Billionaire Registry. - The BIR shall publish annually on its website the name, declared net worth, and surtax paid by each Billionaire. Failure to file or under-declaration constitutes tax evasion.
SECTION 8. Penalties.
(a) Any Billionaire who willfully evades payment shall suffer imprisonment of twelve (12) to twenty (20) years and a fine of two hundred percent (200%) of the tax due.
(b) Any accountant, lawyer, or financial advisor who assists in evasion shall be disbarred and suffer the same penalties as the principal.
(c) Any public officer who connives with a Billionaire shall be charged with Plunder.
SECTION 9. Implementing Rules. - The Department of Finance and BIR shall issue implementing rules within sixty (60) days from effectivity.
SECTION 10. Separability Clause. - If any provision is declared unconstitutional, the remainder shall remain valid.
SECTION 11. Repealing Clause. - All laws inconsistent with this Act are repealed or modified accordingly.
SECTION 12. Effectivity. - This Act shall take effect on January 1, 2027, after fifteen (15) days following publication in the Official Gazette or two newspapers of general circulation.
Approved,