Additional tax exemptions for individual taxpayers sought
Lawmakers are now considering a measure that would ease the financial burden of individual taxpayers through possible additional tax exemptions.HB 2660 authored by !ep. "iosdado #acapagal $rroyo %2
"istrict &amarines 'ur( and !ep. )loria #acapagal*$rroyo %2
"istrict +ampanga( seeks to grant additional exemption to individual taxpayers by amending 'ection ,- %B( of the ational /nternal !evenue &ode of 11 as amended by !.$. o. 1-03.45e really hope that the additional exemptions proposed under the bill will be a welcome respite for the unheralded working class who provides the much*needed revenues for the government the $rroyos said.7he salient provisions to ease the financial woes of the working class include the following8 (!emoving the limitation on the number of allowable dependents and including an additional exemption for those who have dependents with disability92(/ncluding legitimated children and parent:s in the definition of dependents9,($llowing a legal guardian to a person with mental and physical disability to claim additional exemption93($llowing an additional exemption of +-0000.00 for each dependent child with disability regardless of age9 and-($llowing an additional exemption of +-0000.00 for each dependent parent with disability.;nder HB 2660 'ection ,-%B( shall now read8 4$dditional <xemption for "ependents. = 7here shall be allowed an individual exemption of 7wenty >ive 7housand +esos %+2-000.00( for each dependent without disability and >ifty 7housand +esos %+-0000.00( for each dependent with disability.However as has been before the additional exemption for dependents referred to by the measure shall be claimed by only one of the spouses in case of married individuals.$lso in case of legally separated spouses additional exemption may be claimed only by the spouse who has custody of the child or children.
NR # 3342BJAN. 10, 2014