Hindi pwede yan! Lagman tells why doing away with elders’ perks is a bad idea
A senior member of the House of Representatives (HOR) has made his case why the government shouldn’t strip senior citizens of their current benefits.
According to Albay Rep. Edcel Lagman, the scrapping of seniors’ perks under the Department of Finance’s (DOF) proposed tax reform package could prove “counterproductive” in the end.
“I am definitely against that proposal, especially amid the recent passage of the Centenarian Act which brings the problem of aging population into focus,” said Minority solon Lagman, who is 74.
The politiko said that the number of senior citizens in its population is actually on the rise.
“By 2025, at least 10.5 percent of the population will fall under senior citizens category or aged 60 and above. With such sizeable number, scrapping the VAT (value-added tax) exemption would be counterproductive,” noted Lagman, who is a former House Minority leader.
In the tax reform bill filed at the House Committee on Ways and Means, the VAT exemption being enjoyed by senior citizens and even persons with disabilities (PWDs) would be rescinded.
The proposal is supposed to offset the anticipated loss in government revenue once personal and corporate income taxes are lowered.