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House OKs bill to address taxes for private schools

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MANILA, Philippines — The House ways and means committee on Monday approved in principle a substitute bill that would define the tax rates for proprietary schools to allow them to avail of the

Committee chair Rep. Joey Salceda said he was able to “secure from the BIR a commitment of support for the revision by legislation of the ambiguities in the law so that, one, they will be able to avail of the 1-percent tax rate up to 2023.”

He said private schools represented some 378,637 jobs, citing that the income tax increase, if made effective, represented about 5.72 percent of compensation income.He warned that “this would force the already dwindled private education labor force to shed another 21,661 jobs due to the tax rate adjustment alone.”

“We are glad that many of our legislators … have risen to set in motion the process of enacting a law that would leave no doubt and no room for conflicting interpretations as to the preferential tax rate for proprietary educational institutions,” said Joseph Noel Estrada, managing director of Cocopea.

 

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