By Politiko.com.ph
National Unity Party president and Camarines Sur Rep. LRay Villafuerte called on the Bureau of Internal Revenue (BIR) to consider granting tax credits to supermarkets and other retail outlets that would soon be required to grant P500 monthly discounts to senior citizens and persons with disabilities (PWDs).
Villafuerte said providing tax credits would somehow ensure greater compliance by retail outlets with the new policy set to be implemented before the month ends.
“If the BIR does not consider granting tax credits to retail outlets, there is a greater possibility for supermarkets or grocery stores to ignore this would-be policy or jack up the prices of their BNPC (basic necessities and prime commodities) items to cancel out the discounts of seniors and PWDs who would buy from them,” Villafuerte.
The lawmaker said that the impending higher discounts on their groceries would be “a welcome relief for seniors and PWDs, more so at this time when the DTI announced upward price adjustments in the coming weeks in over 40 BNPC items, including instant noodles, soap, and bottled water.”
The Philippine Amalgamated Supermarkets Association Inc. and the Philippine Retailers Association have separately requested state funding mechanisms, such as direct government appropriations or subsidies and tax credits, to prevent burdening retailers.
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