Villar seeks tax breaks for flood victims

June 28, 2011
MANILA — Senator Manuel Villar Jr. has filed a bill that will exempt victims of natural calamities from paying income and real estate taxes.
Villar’s bill, if approved, will grant people “whose immovable property was lost, or totally or partially destroyed,” a tax reprieve of up to five years.
“I’m pushing for the early passage of the bill considering that in the case of Typhoon Falcon alone, it was reported that more than 400,000 families were badly affected, mostly underprivileged and rural folks. While it will substantially affect fiscal collection, the need to help our kababayan (countrymen) in rebuilding their lives is important,”
Villar said.
The senator said the National Government should follow the example of Marikina City, where residents got discounts on their real property tax rates after Typhoon Ondoy caused massive destruction in 2009.
“We must grant a reasonable deduction from their tax liabilities within a specified period as a means to alleviate the adverse economic conditions affecting them and to accelerate the pace of their economic rehabilitation,” he said. (Jonathan de Santos/Sunnex)
Source: http://www.sunstar.com.ph/breaking-news/2011/06/27/villar-seeks-tax-breaks-flood-victims-163496