With 177 affirmative votes and no negative vote the House of Representatives has approved on third and final reading last Wednesday House Bill (HB) 11400, or the proposed “Act Expanding the Coverage of the Privileges and Benefits Given to Senior Citizens.”
HB 11400 serves as the substitute bill for 24 individual measures seeking either additional or expanded benefits for the elderly.
It further amends Republic Act (RA) 7432 entitled “An Act to Maximize the Contributions of Senior Citizens to Nation Building, Grant Benefits, and Special Privileges and for Other Purposes.”
“We Filipinos are known for having a respectful society, and this is rooted in the way we take care of our elders. As legislators, we always look for ways to make life easier and more comfortable for our countrymen who are in their golden years,” House Speaker Martin Romualdez said.
Romualdez cited key provisions of the bill, which include, among others:
- discounts for medicines, food supplements and vitamins, private establishments and parking fees
- applying the 20-percent discount on online and offline purchases and transactions made through third parties, covering medicines, food supplements and vitamins, health professional fees, golf and country clubs, transport network services, toll fees
- 15-percent discount on monthly electricity bills (if usage is 200 kWh or below) and water bills (if usage is 50 cubic meters or below) provided that the statements of account are named under the senior citizen
- 8.5-percent special discount on the purchase of basic necessities and prime commodities
- cash benefit of P25,000 to the nearest surviving relative when a senior citizen passes away, subject to inflation adjustments
- exempting senior citizensfrom the color-coding scheme, if they are driving or on board the vehicle and have valid ID
- availment of promotional discounts in the purchase of goods and services, or the discount provided in the bill, whichever is higher
Establishments may claim certain discounts granted as tax deductions, based on the cost of the goods sold or services rendered, provided that the cost of the discount shall be allowed as a deduction from gross income for the same taxable year that the discount is granted.
The total amount of the claimed tax deduction net of VAT, if applicable, shall be included in their gross sales receipts for tax purposes and shall be subject to proper documentation and to the provisions of the National Internal Revenue Code (NIRC), as amended.
