Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Bill seeks 30% discount for senior PWDs

Bill seeks 30% discount for senior PWDs – BusinessWorld Online


      
      
      
      
      








PHILIPPINE STAR/MIGUEL DE GUZMAN

A BILL that seeks to raise the discount for senior citizens but only for those with disabilities was filed at the House of Representatives last month.

Elderly Filipinos with disabilities will be entitled to a 30% discount on medicines, healthcare services, transportation, accommodation and funeral costs under House Bill No. 5189 filed by Party-list Rep. Rodolfo M. Ordanes.

Filipino senior citizens get a 20% discount under a law designed to enhance their access to healthcare and social services, with the goal of improving their overall quality of life.

“However, there exists a distinct sector composed of individuals who are both senior citizens and persons with disabilities (PWD),” Mr. Ordanes said in the bill’s explanatory note.

He said the discount hike is “necessary,” noting that elderly PWDs find it doubly hard to meet their needs, and that inflation has eroded their purchasing power.

He added that the proposal would not hurt businesses since the discounts they grant could be deducted from their income tax.

“The 30% discount for senior PWDs is not a loss for businesses,” Mr. Ordanes said in a separate statement on Thursday. “It actually lowers the taxable income of businesses.”

“So, I urge businesses and their employees not to look at seniors as bad for business or burdens because of their discounts,” he added, noting that elderly Filipinos often come with their families when dining in or renting an accommodation. “They also buy for their families.”

Any person or establishment that fails to grant the mandated discounts to elderly PWDs could face imprisonment of two to six years, along with fines ranging from P100,000 to P200,000 for repeated violations, according to the bill.

Those who abuse the privileges granted under the House bill could face a minimum of six months’ imprisonment and a fine of as much as P100,000, it added. — Kenneth Christiane L. Basilio

CEDTyClea





    You May Also Like

    Finance

    The Stephen Lawrence Day Foundation (SLDF) and the Institute of Directors (IoD) have joined forces to launch a groundbreaking scholarship programme aimed at accelerating...

    Stock Markets

    Association of Southeast Asian Nations (ASEAN) Chairman and Malaysia’s Prime Minister Anwar Ibrahim (right) and Chinese Premier Li Qiang (left) shake hands after witnessing...

    Stock Markets

    PHILIPPINE STAR/NOEL B. PABALATE PRESIDENT Ferdinand R. Marcos, Jr. said the Philippines will play a prominent role in regional trade and investment networks as...

    Stock Markets

    Marcos signs bill banning POGOs – BusinessWorld Online                                    PHILIPPINE...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.