Senator Lito Lapid has proposed a measure which seeks to expand the discount currently provided to senior citizens for their water and electricity consumption and exempt their water and electricity bills from the Value Added Tax (VAT).
Under Senate Bill No. 2169, Lapid stated a minimum of 5% discount shall be granted to senior citizens on the first 150 kilowatt hours of electricity consumption, which is an increase of 50% from the previous 100 kilowatt hours of electricity consumption already being granted to senior citizens.
A minimum of 5% discount shall also be granted on the first 50 cubic meters of water consumption, an increase from the previous 30 cubic meters.
“Exempt from the 12% VAT, the water and electricity bills of senior citizens.”
The veteran legislator further proposes to exempt from the 12% VAT, the water and electricity bills of senior citizens, so long as the bill is under the name of the senior citizen.
The seasoned lawmaker believes that the proposed measure would be very beneficial to senior citizens who have no income and are short on expenses for their food, medicine, and other basic necessities.
“Many senior citizens are poor and find it challenging to manage and budget their pensions.”
“Many senior citizens are poor and find it challenging to manage and budget their pensions, so it is only appropriate to provide and offer them some relief through VAT exemption and an expanded coverage on the 5% discount on water and electricity consumption,” the senator said.
According to him, this is also a way for society to show gratitude and support to senior citizens who made significant contributions to the country’s economy during their youth.
“Any form of aid, assistance, or support that we can give to senior citizens serves a meaningful gesture to convey our love, affection, and concern for their invaluable contributions to our society,” Lapid stressed.
