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Palace urged to sign measure to exempt seniors from VAT

February 12, 2010

TANZA, CAVITE, PHILIPPINES—NATIONALISTA PARTY VICE PRESIDENTIAL CANDIDATE SENATOR LOREN LEGARDA ON FRIDAY URGED MALACAÑANG TO SIGN THE EXPANDED SENIORS’ CITIZEN ACT, SAYING GOVERNMENT SHOULD GIVE IMPORTANCE TO SOCIAL SERVICES AS MUCH AS IT PRIORITIZES TAX REVENUES.
“What’s the P1.6 billion that (government) would lose (with the bill) compared to what we’ve been losing to corruption,” Legarda told reporters following a campaign rally of the Nacionalista Party here. “Tingnan din natin ang social services,” she added.
The proposed law aims to let Filipino citizens 60 years old and above enjoy full exemption from the 20-percent value added tax.