Lawmakers wants two-year tax moratorium to Yolanda ravaged provinces

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IN order to provide further relief to the victims of super typhoon Yolanda a lawmaker is pushing for a two-year moratorium on all kinds of taxes in areas severely damaged by typhoon.

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Senator Joseph Victor Ejercito, in filing senate resolution 370  is asking the Bureau of Internal Revenue (BIR) to grant tax freeze in the provinces of Samar, Leyte, Iloilo, Capiz, Aklan, Palawan and in other devastated areas.

Under the resolution, Ejercito wants the BIR to temporarily free calamity victims from complying with tax payments and to waive penalties brought by their failure to comply with national tax laws.

Ejercito noted that the tax relief, could accelerate the recovery of livelihood activities, business enterprises and will spur back employment and investment in severely affected areas.

“I  ask the bureau to help the victims rebuild and restore their businesses in order for them to continuously provide employment opportunities and boost the economic state of the damaged areas,” Ejercito appealed.

Three weeks after super typhoon Yolanda ravaged the country, the amount of property, infrastructure and agricultural damages incurred was pegged to at least P22.66 Billion. Jefferson Antiporda

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