REPUBLIC ACT NO. 9994 - ADDITIONAL BENEFITS TO SENIOR CITIZENS (TAX BENEFITS)
Category: Income Taxation
REPUBLIC ACT NO. 9994 - ADDITIONAL BENEFITS TO SENIOR CITIZENS (TAX BENEFITS)
The following transactions with senior citizens are exempt from VAT (aside from the 20% discount):
>Professional fees of physicians, licensed health workers
>Purchase of medicines
>Medical and dental services and laboratory fees
>Fare for any land transportation
>Fare for domestic air and sea services
>Utilization of hotels and similar lodging establishments
>Admission fees on theaters, concert halls, circuses, etc.
>Funeral and burial services
>Discounts given are still considered as tax deductions and NOT tax credits
>Employment of senior citizens will entitle employer to additional tax deduction of 15% of total amount paid as salaries and wages to senior citizens provided that the employment lasts for at least 6 months
>Realty tax holiday for the first 5 years is granted to those establishing foster care facilities
Newer Philippine Law Resources:
- BANK OF AMERICA NT & SA VS. CA- Remittance Tax -
- MARUBENI CORPORATION V. COMMISSIONER OF INTERNAL REVENUE- Income Tax -
- N.V REEDERIJ “AMSTERDAM” AND ROYAL INTEROCEAN LINES VS. COMMISSIONER OF INTERNAL REVENUE -
- RA 9504- Minimum Wage, Personal Exemptions, Additional Exemptions, Optional Standard Deduction -
- REPUBLIC ACT NO. 10026 - TAX EXEMPTION TO LOCAL WATER DISTRICTS -
Additional Law Reading:
- REPUBLIC ACT 9856 - REAL ESTATE INVESTMENT TRUST (TAX INCENTIVES) -
- CIR vs. MIRANT OPERATIONS- Tax Credit and Tax Refund -
- SUPREME TRANSLINER, INC. VS. BPI FAMILY SAVINGS BANK, INC.- Capital Gains Tax -
- CIR vs. PHILIPPINE AIRLINES, INC. - Minimum Corporate Income Tax -
- CIR vs. PHILIPPINE AIRLINES, INC. - Overseas Communications Tax -
Popular in BATASnatin:
- Classification of Taxpayers - - 8606 Hits
- RA 9504- Minimum Wage, Personal Exemptions, Additional Exemptions, Optional Standard Deduction - - 304 Hits
- CIR vs. PHILIPPINE AIRLINES, INC. - Minimum Corporate Income Tax - - 298 Hits
- CIR V. WANDER PHILIPPINES INC.-Dividends, Withholding Tax - - 250 Hits
- DUMAGUETE CATHEDRAL CREDIT COOPERATIVE vs. CIR - Withholding Tax - - 235 Hits
REPUBLIC ACT NO. 9994 - ADDITIONAL BENEFITS TO SENIOR CITIZENS (TAX BENEFITS)
Category: Income Taxation
REPUBLIC ACT NO. 9994 - ADDITIONAL BENEFITS TO SENIOR CITIZENS (TAX BENEFITS)
The following transactions with senior citizens are exempt from VAT (aside from the 20% discount):
>Professional fees of physicians, licensed health workers
>Purchase of medicines
>Medical and dental services and laboratory fees
>Fare for any land transportation
>Fare for domestic air and sea services
>Utilization of hotels and similar lodging establishments
>Admission fees on theaters, concert halls, circuses, etc.
>Funeral and burial services
>Discounts given are still considered as tax deductions and NOT tax credits
>Employment of senior citizens will entitle employer to additional tax deduction of 15% of total amount paid as salaries and wages to senior citizens provided that the employment lasts for at least 6 months
>Realty tax holiday for the first 5 years is granted to those establishing foster care facilities
Newer Philippine Law Resources:
- BANK OF AMERICA NT & SA VS. CA- Remittance Tax -
- MARUBENI CORPORATION V. COMMISSIONER OF INTERNAL REVENUE- Income Tax -
- N.V REEDERIJ “AMSTERDAM” AND ROYAL INTEROCEAN LINES VS. COMMISSIONER OF INTERNAL REVENUE -
- RA 9504- Minimum Wage, Personal Exemptions, Additional Exemptions, Optional Standard Deduction -
- REPUBLIC ACT NO. 10026 - TAX EXEMPTION TO LOCAL WATER DISTRICTS -
Additional Law Reading:
- REPUBLIC ACT 9856 - REAL ESTATE INVESTMENT TRUST (TAX INCENTIVES) -
- CIR vs. MIRANT OPERATIONS- Tax Credit and Tax Refund -
- SUPREME TRANSLINER, INC. VS. BPI FAMILY SAVINGS BANK, INC.- Capital Gains Tax -
- CIR vs. PHILIPPINE AIRLINES, INC. - Minimum Corporate Income Tax -
- CIR vs. PHILIPPINE AIRLINES, INC. - Overseas Communications Tax -
Popular in BATASnatin:
- Classification of Taxpayers - - 8606 Hits
- RA 9504- Minimum Wage, Personal Exemptions, Additional Exemptions, Optional Standard Deduction - - 304 Hits
- CIR vs. PHILIPPINE AIRLINES, INC. - Minimum Corporate Income Tax - - 298 Hits
- CIR V. WANDER PHILIPPINES INC.-Dividends, Withholding Tax - - 250 Hits
- DUMAGUETE CATHEDRAL CREDIT COOPERATIVE vs. CIR - Withholding Tax - - 235 Hits
BATASnatin The Firm
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