Senior Citizens Party-list Representative Rodolfo Ordanes has filed House Bill 5189 seeking to raise the senior citizen discount to 30% from the current 20% but only for seniors who are also persons with disabilities (SCWDs), while retaining its deductibility from gross income incentive for businesses.
The discount hike is necessary, according to Ordanes, because “inflation, higher loan interest rates, and peso depreciation have reduced the purchasing power of the peso. Note also that many seniors are not PWDs and are healthy, so the 30% discount will apply only to some seniors–those who are also PWDs.”
“The 30% discount for senior PWDs is not a loss for businesses.”
“The 30% discount for senior PWDs is not a loss for businesses. It actually lowers the taxable income of businesses. The totality of all senior’s discounts given are deductible from gross income now and would continue to be when this proposed Seniors with Disabilities Act becomes law,” the veteran legislator explained.
“So, I urge businesses and their employees not to look at seniors as bad for business or burdens because of their discounts. Each senior is a paying customer that deserves proper customer service and not discrimination. Very often, seniors do not purchase just for themselves. They also buy for their families. The discount does not apply to companions or their families, who pay in full if they are not PWDs,” the seasoned lawmaker added.
“Seniors bring in more paying customers.”
He pointed out, “when seniors dine at restaurants, they bring their families with them or have a caregiver who is younger than the senior. Those companions pay in full because the senior’s discount does not apply to them. Seniors bring in more paying customers.”
“HB 5189 retains the VAT exemption of seniors and the income tax exemption of senior citizens who are minimum wage earners,” Ordanes noted.
The Senior Citizen Party-list congressman also said he is in favor of moves to increase tax exemptions on workers’ “De Minimis” benefits and wants bank deposit balances that are no more than P5,000 to be exempt from the final tax on interest income.
Ordanes is a member of the House committee on labor and employment.
“Tax exemptions mean additional personal disposable income for wage earners and the dependents, including seniors in their households,” he said.
Ordanes is also a member of the House committees on appropriations and public accounts.
