3-year tax relief for calamity victims proposed-A A +A
Sunday, December 8, 2013
A MONTH after Typhoon Yolanda (Haiyan) caused massive destruction in the Visayas, a member of Congress is proposing a three-year tax relief for calamity victims.
Quezon Representative Angelina Tan filed House Bill 3370 which states that persons who lost their properties, whether totally or partially, from natural calamities "shall be allowed to deduct the total amount of the loss or destruction from his or its income and real property tax liabilities up to a period of three years."
"The State must safeguard and promote the public welfare through reasonable legislative measures that will help alleviate serious economic dislocations on the part of disaster victims," Tan said.
Tan said that while taxes are considered the "lifeblood of the government," humanitarian reasons dictate that the government should grant tax relief to calamity victims.
In the proposed measure, Tan cited a 2011 World Bank Risk Report published by the United Nations University and the Institute of Environment and Human Security ranking the Philippines as the third most disaster risk country worldwide based on four components: exposure, susceptibility, coping, and adapt capacities.
According to the National Disaster Risk Reduction and Management Council (NDRRMC), more than 12 million people from nine regions have been affected by typhoon Yolanda.
Tan recalled that between 1997 and 2007, 84 tropical storms entered the Philippine Area of Responsibility, which resulted to a total death toll of 13,155 and more than 51 million families affected. (Sunnex)