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House tax panel OKs bill urging private firms to hire senior citizens 

Published Mar 20, 2024 12:04 am

At A Glance

  • The proposed law that encourages private firms to hire elderly Filipinos has hurdled the House Committee on Ways and Means.
  • ACT-CIS Party-list Rep. Erwin Tulfo says the measure incentivizes companies to hire senior citizens by offering a significant tax reduction.

Senior citizens.jpg(MANILA BULLETIN)

 

 

 

 

 

 

 

 

The proposed law that encourages private firms to hire elderly Filipinos has hurdled the House Committee on Ways and Means. 

This was reported by House Deputy Majority Leader for Communications ACT-CIS Party-list Rep. Erwin Tulfo, one of the principal authors of the measure, dubbed "Employment Opportunities for Senior Citizen and Private Entities’ Incentives Act". 

The Albay 2nd district Rep. Joey Salceda-chaired ways and means panel approved the tax provisions of the measure. 

“This legislation goes beyond just creating jobs. It fosters social inclusion, keeps seniors mentally and physically stimulated, and contributes to their financial security,” Tulfo said in his sponsorship remarks. 

“For companies, employing senior citizens can bring stability, loyalty, and wealth of experience to the workplace. Senior citizens often require less training and can serve as mentors to younger colleagues,” the added the broadcast journalist-turned-congressman. 

For his part, Salceda said it took Congress at least 32 years to harmonize the same benefits of employment opportunities given to person with disabilities (PWD). If the bill becomes law, senior citizens will have the same employment opportunities as PWDs. 

“It took us 32 years to equalize (this bill). Congratulations to the hardworking senior citizens advocates,” Salceda said, referring to the authors. 

Under the bill, senior citizens who have the capacity and desire to work, or be re-employed, shall be provided information and matching services of available job opportunities by the Department of Labor and Employment (DOLE), through the public employment service offices, to enable them to be productive members of society. 

“All government agencies and private entities shall institute an employment program that shall promote the general well-being of senior citizens and ensure access to employment opportunities to those who have the qualifications, capacity, and interest to be employed,” the bill said. 

Tulfo said the proposed law creates a win-win situation for both senior citizens and private companies. 

“It also incentivizes companies to hire senior citizens by offering a significant tax reduction— 25 percent of the total amount paid as salaries, wages, benefits and training provided to senior citizen employees,” Tulfo noted. 

Meanwhile, lawyer Franklin Quijano of the National Commission of Senior Citizens (NCSC) thanked the lawmakers for creating the bill and even revealed that some employers have shown interest in it this early.

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