Tax breaks for stores offering bigger goods discounts to seniors eyed
MANILA, March 26 -- A lawmaker on Tuesday appealed to the Bureau of Internal Revenue (BIR) to consider granting tax credits to supermarkets and other retail outlets required to give price cuts in conjunction with the implementation of the higher monthly discounts on essential grocery items purchased by senior citizens and persons with disabilities (PWDs).
Camarines Sur Rep. Luis Raymund Villafuerte Jr. said granting tax breaks or deductions to supermarkets and other retail stores would ensure greater compliance with the expanded discount scheme, which hiked the weekly cap covered by the 5-percent discount from PHP1,300 to PHP2,500.
"Such a tax break would spell financial relief for them-and help ensure their greater compliance with this...
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