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Thursday, April 25, 2024

VAT exemption for elderly holds

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PHILIPPINE Constitution Association president Martin Romualdez on Tuesday praised President Rodrigo Duterte for excluding senior citizens and people with disability from government’s plan to remove the value-added tax exemptions on certain goods and services.

“I thank the President for his compassionate heart by showing compassion  to our senior citizens and PWDs,” Romualdez said.

He made the statement in response to Senator Juan Edgardo Angara’s disclosure that senior citizens and people with disability would keep their VAT exemptions.

Romualdez, a former representative of Leyte, is the principal author of the newly implemented Republic Act 10754″•an Act Expanding the Benefits and Privileges of People With Disability and that extends their VAT exemptions.

“This is another proof that President Rody Duterte is really serious about leveling the playing field to help and provide assistance to the underprivileged people,” Romualdez said.

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He said he worked hard for the enactment of the PWD bill as it would directly help the people with disability. 

Angara said the Finance Department would be coming up with a revised tax reform proposal, which, among other things, will keep the VAT-exemption benefits of senior citizens and people with disability.

The department had recently presented to Angara, chairman of the Senate ways and means committee, the latest draft of the revised version of the first of six packages of the Duterte administration’s comprehensive tax reform program. Package 1 seeks to lower the personal income tax rates, broaden the VAT base, and adjust the excise taxes of petroleum products and automobiles.

Romualdez thanked the officials and stakeholders from the PWD sector for drafting the IRR in consultation with the Health and Finance Departments and the National Council on Disability Affairs for the implementation of the provisions of the act.

The Philippine Statistics Authority has estimated the PWD population in the country at 1.5 million. 

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