Bam Aquino wants year-long tax relief for areas hit by calamity
By Marie P. Ruiz
Senator Bam Aquino today said calamity-stricken areas should be given tax relief for at least one year.
He said this will give affected businesses and families a time to recover from their financial losses.
Aquino has filed a bill entitled “Providing For Tax Relief In Times of Calamity” which calls for exemption from payment of real estate, business and donor’s taxes in areas declared under a state of calamity.
Aquino said the measure seeks to relieve our calamity-affected countrymen the burden of taxes so that they can quickly recover.
The senator said the tax system needs to be re-evaluated to ensure quick and efficient recovery of victims from disasters.