Marcos seeks tax relief for disaster time donors

Katrina Domingo, ABS-CBN News

Posted at Apr 20 2020 05:50 PM

MANILA - Sen. Imee Marcos said Monday she filed a bill seeking tax relief to those who contribute to government disaster response.

Marcos' Senate Bill No. 1429 wants to make the value of donations deductible from corporate income tax to help "boost the country's efforts to save frontliners and more lives" during the coronavirus crisis and other calamities.

"This bill means to encourage the Bayanihan spirit inherent in us Filipinos and not burden our generosity with taxes," said Marcos, who chairs the Senate Committee on Economic Affairs.

The measure also seeks to cut red tape when applying for certificates of tax exemptions before the Department of Finance.

Should the bill be passed into law, it would also cover donors who helped victims of the Taal volcano eruption and other calamities in January 2020.

"These calamities may recur all at the same time, so the spirit of giving must be encouraged," she said.