Bill granting private schools tax relief OKd

The Committee on Ways and Means at the House of Representatives approved on Monday a measure that will define the tax rates for proprietary schools allowing them to avail of the 10 percent preferential rate on taxable income.

Under the substitute bill, the preferential tax rate of 10 percent imposed on proprietary educational institutions will be reduced to one percent from July 1, 2020 to June 30, 2023. After that, "the tax rate shall be set to 10 percent."