House committee approves 25% discount on frontliner’s tax
House committee approves 25% discount on frontliner’s tax
The
House of Representatives through the Committee on Ways and Means has approved combined
bill granting 25% discount to the taxable year 2020.
During
committee meeting, the panel approved House Bill No. 7351 or “Handog sa mga Bayaning Lumalaban Kontra
COVID-19 Act,” which also approved other similar bills number 984, 2901,
3751, 7523 and 797.
According
to committee chair Representative Joey Salceda, “This unanimously approved. This is our own way of compensating our
medical and non-medical frontliners.”
As
the pandemic sweeps through the country, these so-called modern day heroes do
not hesitate to leave their own family and risk their own lives in order to
protect other people.
The
proposed bill covers only the salary or compensation, as well as the gross
receipts from the exercise profession or employment received by a frontliner
for the taxable year 2020.