Imee wants to reward good Samaritans with tax breaks

Published May 7, 2020, 12:00 AM

by manilabulletin_admin

By Mario Casayuran

Senator Imee R. Marcos, chairwoman of the Senate economic affairs committee, has introduced a measure seeking to reward good Samaritans who emerged during the coronavirus outbreak.

Senator Imee Marcos (Senator Imee Marcos Official Facebook Page /  FILE PHOTO / MANILA BULLETIN)
Senator Imee Marcos (Senator Imee Marcos Official Facebook Page / FILE PHOTO / MANILA BULLETIN)

Marcos’ Senate Bill 1429 seeks to recognize the private sector’s efforts in assisting the government through donations and fund raising initiatives.

If enacted into law, Marcos proposed that the measure should be retroactive starting from January 2020 and onwards.

The lady senator from Ilocos Norte noted that a provision in the Republic Act (RA) 11469, known as the “Bayanihan to Heal as One Act,’’ grants full tax benefits to the private sector – companies and individuals alike – that have donated to the government, non-government organizations (NGOs), hospitals and other medical facilities in the battle against COVID-19.

“This bill seeks to extend the same benefits to the ‘good Samaritans’ in the country who have tirelessly and selflessly donated their funds, skills, products and other resources to their fellow Filipinos in times of calamity, often in spite of physical and financial losses they themselves endured,” she said.

Marcos said such acts of generosity should no longer be punished with the additional payment of donor’s tax.

Under the bill, any individual who makes a donation to the government, Department of Health-accredited hospitals, local government unit hospitals and other medical facilities and health clinics during a state of calamity shall be entitled to donor’s tax exemption and income tax deduction.