Congress approves bill on additional tax exemption

Congress approves bill on additional tax exemption

The House of Representatives has approved on second reading House Bill 5431 principally authored by former President and now Pampanga Rep. Gloria Macapagal-Arroyo, Sorsogon Rep. Deogracias Ramos, Pangasinan Rep. Marlyn Primicias-Agabas, and Camarines Sur Rep. Diosdado Arroyo, granting an additional P50,000 tax exemption for children requiring special needs.

Batangas Rep. Hermilando Mandanas, chairman of the House committee on ways and means, will present the bill at the plenary for approval. Mandanas introduced an amendment by setting the allowable income tax exemption at P50, 000 for each physically or mentally challenged dependent.

Another key provision of the bill is the removal of limitation on the number of allowable dependents and the inclusion of children and parents in the definition of dependents.