GMA signs Senior Citizens Act
Fri Sep 03, 2010 01:11pm Philippines
MANILA, Philippines (Xinhua) - President Arroyo on Tuesday signed into law Republic Act 9994 or the Expanded Senior Citizens Act, which will grant more benefits to senior citizens and restores their full 20 percent discount on goods and services previously diminished by the imposition of the Expanded Value Added Tax.
At a press briefing, Deputy Presidential Spokesperson Gary Olivar said that Executive Secretary Eduardo Ermita confirmed that the President signed RA 9994 that morning, before she left for a string of engagements in Mindanao.
Olivar said that the Chief Executive is aware of the fiscal cost of the measure - which the Department of Finance estimates at P1.68 billion ($36.28 million) per year - but supported it to spread the fruits of her fiscal reforms to some of the "neediest" people in the country.
"The President is fully aware of the fiscal costs of this law, but people should remember that this is only one of the many social services and safety net programs that have been created precisely to spread the benefits of our fiscal recovery to the neediest of our citizens," he said.
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MANILA, Philippines (Xinhua) - President Arroyo on Tuesday signed into law Republic Act 9994 or the Expanded Senior Citizens Act, which will grant more benefits to senior citizens and restores their full 20 percent discount on goods and services previously diminished by the imposition of the Expanded Value Added Tax.
At a press briefing, Deputy Presidential Spokesperson Gary Olivar said that Executive Secretary Eduardo Ermita confirmed that the President signed RA 9994 that morning, before she left for a string of engagements in Mindanao.
Olivar said that the Chief Executive is aware of the fiscal cost of the measure - which the Department of Finance estimates at P1.68 billion ($36.28 million) per year - but supported it to spread the fruits of her fiscal reforms to some of the "neediest" people in the country.
"The President is fully aware of the fiscal costs of this law, but people should remember that this is only one of the many social services and safety net programs that have been created precisely to spread the benefits of our fiscal recovery to the neediest of our citizens," he said.
More news on Philstar.com
To Chikka.com
Back to SANDBOX