Camarines Sur Rep. Luis Ray Villafuerte expressed confidence the Senate and Congress would work overtime to pass a corrective legislation defining the tax rates for proprietary schools and allowing them to enjoy a 1 percent preferential tax rate until June 30, 2023 amid the COVID-19 pandemic.
The measure would not be passed on time, given that most private schools shall open classes this month, he said.
He urged his colleagues to pass the bill in September.
The corrective legislation would spell a “big relief” for schools, and “hopefully” enable them to keep their teachers and recruit more teachers for school year 2021-2022, he noted.
Villafuerte is one the principal authors of House Bill No. 9913 that consolidated his HB 9672 with similar other bills to lower the preferential tax rate on proprietary educational institutions to 1 percent from July 1, 2020 to June 30, 2023, after which the preferential rate will be set at 10 percent. Rio Araja