Seniors urge gov't to keep VAT exemption

ABS-CBN News

Posted at Aug 23 2016 04:00 PM

Seniors urge gov't to keep VAT exemption 1
Former Senator Edgardo J. Angara, father of the Senior Citizen's Law, administers the oath of office for the inducted officers of the Federation of Senior Citizens' Associations of the Philippines (FSCAP) led by its President Jorge Banal, Sr. File photo courtesy of Senate.

MANILA - Senior citizens are calling on government not to remove value-added tax (VAT) exemptions as the finance department plans to overhaul the tax system.

Seniors benefit from the exemption implemented on top of the 20 percent discount on goods, said Jorge Banal Sr., president of the NCR Federation of Senior Citizens' Associations of the Philippines.

"Ang inaantay po namin ay tulong, pero if you will take out something na nae-enjoy namin, masakit po 'yun," he said.

Citizens who are at least 60 years old were granted VAT exemption under the Expanded Senior Citizens Act of 2010.

Finance Secretary Carlos Dominguez on Monday said that while no new taxes would be imposed under the Duterte administration, some VAT exemptions would be removed. -- Report from Alvin Elchico, ABS-CBN News