REPUBLIC ACT NO. 9994 - ADDITIONAL BENEFITS TO SENIOR CITIZENS (TAX BENEFITS)

The following transactions with senior citizens are exempt from VAT (aside from the 20% discount):

>Professional fees of physicians, licensed health workers

>Purchase of medicines

>Medical and dental services and laboratory fees

>Fare for any land transportation

>Fare for domestic air and sea services

>Utilization of hotels and similar lodging establishments

>Admission fees on theaters, concert halls, circuses, etc.

>Funeral and burial services

>Discounts given are still considered as tax deductions and NOT tax credits

>Employment of senior citizens will entitle employer to additional tax deduction of 15% of total amount paid as salaries and wages to senior citizens provided that the employment lasts for at least 6 months

>Realty tax holiday for the first 5 years is granted to those establishing foster care facilities