Radyo Natin

Arroyo pushes for additional tax exemption for elderly care

MANILA — Former President and now Pampanga Rep. Gloria Macapagal Arroyo is pushing for additional tax exemption for taxpayers who care for their elderly parents.
Arroyo has filed House Bill No. 1522, which seeks to amend paragraph B of Section 35 of Republic Act No. 8424 or the National Internal Revenue Code (NIRC) 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 be likewise be allowed to the individual taxpayer: provided, that the elderly parent is chiefly dependent on and living with the taxpayer," Arroyo stated in her bill.
Under the measure, an elderly is defined as any parent who is at least 60 years old with no means of support.
The current law allows an individual taxpayer an additional exemption of P25,000 for each depending child not exceeding four.
Arroyo said this measure seeks to relieve taxpayers who are taking care of their elderly parents from additional tax burden and also allow them to save money which can be used to meet the nutrition, education, medicines and other basic needs of other dependents.
Arroyo cited that Republic Act No. 7432 or the Senior Citizens Act had allowed 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, she noted. (PNA)
Iyaz Kamias
Maja Limuyak
Valeen Kinitan

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Last Modified: 2017-Dec-12 06.25.00 UTC+0800