By Delon Porcalla (The Philippine Star), Feb 15, 2017
MANILA, Philippines – Former president and now House Deputy Speaker Gloria Arroyo has filed a bill that seeks to provide additional tax exemption for taxpayers who take care of their elderly parents.
House Bill 1522 seeks to amend Sec. 35 of Republic Act 8424, or the National Internal Revenue Code of 1997, to include an additional exemption of P25,000 for each elderly parent being cared for by a taxpayer.
“An additional exemption of P25,000 for each elderly parent shall likewise be allowed to the individual taxpayer: provided, that the elderly parent is chiefly dependent on and living with the taxpayer,” she said.
“One praiseworthy Filipino value is devotion to family ties. Married children take care of their parents by supporting them during their twilight years as an act of gratitude for all pains and sacrifices.”
“Thus, it is not surprising to see family members who provide their aging parents a wide array of assistance from medications, adult healthcare and in some cases, medical procedures,” Arroyo noted.
Under her proposal, an elderly is defined as any parent who is at least 60 years old with no means of support.
The prevailing law provides an individual taxpayer an additional exemption of P25,000 for each child dependent not exceeding four.
Granting additional exemption for those taking care of their elderly parents is geared towards relieving them from tax burden and at the same time allowing them to save money which can be used to meet the nutrition, education, medicines and other basic needs of other dependents.
Arroyo said RA 7432, or the Senior Citizens Act, allows a taxpayer, who is head of the family, to include a senior citizen as a dependent under the NIRC.
However, this privilege was not expressly provided under RA 8424 which is the reason why there is need for a new legislation in order for individual taxpayers to fully avail of this additional tax exemption.
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For widespread, practical equality!”
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
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Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
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