Cayetano lauds approval of IRR of Expanded Senior Citizens Act

June 18, 2010 8:23 pm 

MANILA, June 18 – Senator Pia Cayetano lauded on Friday the signing of the implementing rules and regulations (IRR) of the Expanded Senior Citizens Act that would grant the senior citizens a full 20 percent discount on essential goods and services.

”This law will exempt our elderly from paying the 12 percent Value-Added Tax (VAT), giving them much-needed relief from the rising costs of services and especially, medicines,” Cayetano said.

The Department of Social Welfare and Development (DSWD) signed on Friday the IRR which will be published on June 21.

"I call on all concerned agencies, particularly the Bureau of Internal Revenue (BIR) to expedite the release of revenue regulations that would govern establishments in the application and invoicing of the senior citizens discount and VAT exemption. But I still hope that the BIR would be able to comply even before the 30-day period given them under the IRR, so our lolas and lolas need not wait any longer,” the lady lawmaker said.

With the implementation of the law, the senior citizens can now enjoy the full 20% discount on food, medicines, professional fees of doctors, fares for land, air and sea travel as well as hotel stay, admission to theaters and movie houses, concerts and similar leisure activities.

Under the new law, the senior citizens can also enjoy five percent discount on their monthly water and electricity bill not exceeding 100 per kilowatt hour for electricity and 30 cubic meters for water.

Indigent or non-pensioner senior citizens will also be entitled to a monthly pension of P500, free medical insurance and disability insurance through PhilHealth, and burial assistance worth P2,000.

The exemption would mean an estimated P1.68 billion foregone revenues of the government. (PNA) LAP/jfm

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