The House Committee on Ways and Means, chaired by Albay Representative Joey Salceda, met to discuss the revenue implications of the unnumbered substitute bill seeking to expand senior citizens’ privileges and benefits.
“This bill addresses a gap in Republic Act 9994, or the ‘Expanded Senior Citizens Act of 2010,’ which does not clearly apply discounts on online transactions,” Committee on Senior Citizens chairperson Representative Rodolfo Ordanes said.
“The bill provides tax mechanisms that balance fiscal sustainability with social responsibility.”
Ordanes explained that the bill proposes a compilation of amendments to expand the benefits and privileges granted to senior citizens and provide tax mechanisms that balance fiscal sustainability with social responsibility.
The veteran legislator saw the bill as more than another piece of legislation.
“It is a statement of our nation’s gratitude (to senior citizens).”
“It is a statement of our nation’s gratitude (to senior citizens) by approving the tax provisions to ensure that the benefits for senior citizens are feasible and sustainable, allowing businesses to support them without undue financial restraint,” the seasoned lawmaker stressed.
Government agencies recommended that businesses granting senior citizen discounts be entitled to tax deductions instead of tax credit to mitigate revenue loss, which the panel adopted.
The panel also approved the tax provision of the unnumbered substitute bill to House Bill (HB) 10329, seeking to strengthen the administration of excise tax on tobacco products, cigars, cigarettes, heated tobacco products (HTPs), vapor products and novel tobacco products.
The substitute bill would revise the National Internal Revenue Code of 1997, as amended.
Lastly, the committee approved tax and revenue provisions of the substitute bills promoting bicycles as primary mode of transportation and strengthening the right of government employees to self-organization and collective bargaining.
