Former President, now Pampanga Rep. Gloria Macapagal-Arroyo, and her son Camarines Sur Rep. Diosdado Arroyo are seeking additional personal exemption for individual taxpayers who take care of their elderly parents.
According to the Arroyos, by including parents who are senior citizens as dependents, the State will relieve taxpayers from tax burdens and allow them to save money which can be used to meet the nutrition, education, medicines and other basic needs of their other dependents.
Another rationale behind the filing of the proposal embodied in House Bill 6489 according to the solons is that while Republic Act 7432, otherwise known as “An Act to Maximize the Contribution of Senior Citizens to Nation-Building, Grant Benefits and Special Privileges and For Other Purposes,” was enacted to give assistance to individuals who take care of their elderly parents, such privilege, however, was not expressly provided under RA 8424 or the National Internal Revenue Code of 1997 and in any of its implementing rules and regulations.
The former President said because of this, there is a need to legislate anew this matter by incorporating it in RA 8424, as amended, in order for individual taxpayers to fully avail of this additional tax exemption.
She said despite entailing additional expenses in looking after their aging parents, it does not seem to matter for the ordinary Filipino family who would rather personally take care of their parents rather than entrust them to other people.
“Many family members today face economic difficulties due to the high cost of living. In some instances, it is common to find households where both spouses work to support their children and provide care for their aging parents,” said Mrs. Arroyo.
The younger Arroyo for his part noted one praiseworthy Filipino value is devotion to family ties. Married children take care of their parents by supporting them during their twilight years as an act of gratitude for all their pains and sacrifices, according to him.
“Thus, it is not surprising to see family members who provide their aging pareants a wide array of assistance from medications, adult healthcare and, in some cases, medical procedures. And since family is the backbone of the long-term health care system in the Philippines, children always make sure that care for older persons is left in the hands of family members,” he said.