P30,000 tax exemption sought for taxpayer with disabled wards By Charlie V. Manalo 02/05/2012

P30,000 tax exemption sought for taxpayer with disabled wards

By Charlie V. Manalo 02/05/2012

Two lawmakers are seeking a P30,000 exemption from the taxable income of a taxpayer with disabled dependents to alleviate the taxpayer’s financial hardships.

According to Buhay Reps. Mariano Michael Velarde and Irwin Tieng, if the Philippines is to adhere both to the Magna Carta for Disabled Persons and the Constitution which stress the importance of rehabilitation, self-development, self-reliance and integration into the mainstream of persons with disabilities, then there must be concrete action toward at least easing the burden of the disabled Filipinos and their families.

The solons stressed their proposal embodied in House Bill 5672 seeks to somehow alleviate, in a definite manner, the financial difficulties of Filipinos with disabled dependents by raising their tax exemption under the existing National Internal Revenue Code (Nirc)..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/metro/20120205met1.html